Andra AP fonden Purchases 140,974 Shares of Royal Bank Of Canada $RY

Andra AP fonden increased its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 875.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 157,077 shares of the financial services provider’s stock after buying an additional 140,974 shares during the period. Andra AP fonden’s holdings in Royal Bank Of Canada were worth $25,412,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 575 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Royal Bank Of Canada by 60.9% during the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after purchasing an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Royal Bank Of Canada by 57.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 1,934 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of Royal Bank Of Canada by 39.1% during the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after purchasing an additional 3,811 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Royal Bank Of Canada by 9.0% in the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock valued at $6,279,000 after purchasing an additional 3,928 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Argus set a $225.00 price objective on Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Weiss Ratings downgraded Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Performance

Shares of NYSE RY opened at $210.39 on Tuesday. The firm has a market capitalization of $291.72 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.71 and a beta of 0.80. Royal Bank Of Canada has a one year low of $127.38 and a one year high of $218.57. The business has a fifty day simple moving average of $198.71 and a 200 day simple moving average of $179.78. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. During the same quarter in the previous year, the firm posted $3.12 EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Sell-side analysts expect that Royal Bank Of Canada will post 11.45 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 3.3%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.