Virginia Retirement Systems ET AL cut its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 420,500 shares of the financial services provider’s stock after selling 2,300 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Royal Bank of Canada were worth $33,489,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in RY. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Royal Bank of Canada in the first quarter worth $332,201,000. Toronto Dominion Bank raised its holdings in Royal Bank of Canada by 10.4% in the first quarter. Toronto Dominion Bank now owns 19,629,673 shares of the financial services provider’s stock worth $1,481,311,000 after purchasing an additional 1,853,129 shares during the period. State of Tennessee Treasury Department acquired a new stake in Royal Bank of Canada in the first quarter worth $86,128,000. TD Asset Management Inc. raised its holdings in Royal Bank of Canada by 1.3% in the first quarter. TD Asset Management Inc. now owns 37,487,585 shares of the financial services provider’s stock worth $2,829,072,000 after purchasing an additional 491,062 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Royal Bank of Canada by 69.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 530,376 shares of the financial services provider’s stock worth $40,026,000 after purchasing an additional 217,609 shares during the period. 41.54% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on RY. BMO Capital Markets reiterated a “hold” rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. Zacks Investment Research upgraded shares of Royal Bank of Canada from a “sell” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Thursday, August 1st. Finally, Desjardins reiterated a “buy” rating and issued a $111.00 target price on shares of Royal Bank of Canada in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $100.00.
Shares of NYSE:RY traded down $0.39 during midday trading on Tuesday, reaching $75.57. 700,714 shares of the company were exchanged, compared to its average volume of 730,280. Royal Bank of Canada has a fifty-two week low of $65.76 and a fifty-two week high of $81.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s fifty day moving average price is $79.48. The firm has a market cap of $109.46 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.01 and a beta of 1.09.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 23rd. The financial services provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.04. Royal Bank of Canada had a net margin of 20.04% and a return on equity of 17.36%. The business had revenue of $8.63 billion for the quarter, compared to analyst estimates of $7.60 billion. During the same period last year, the business posted $2.06 earnings per share. As a group, analysts expect that Royal Bank of Canada will post 6.73 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be issued a dividend of $0.7596 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.02%. Royal Bank of Canada’s payout ratio is 47.78%.
About Royal Bank of Canada
Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.
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