MUFG Securities EMEA plc grew its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 517.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,566,226 shares of the financial services provider’s stock after buying an additional 2,988,226 shares during the quarter. Royal Bank of Canada makes up 3.0% of MUFG Securities EMEA plc’s holdings, making the stock its 3rd biggest holding. MUFG Securities EMEA plc owned approximately 0.25% of Royal Bank of Canada worth $283,158,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Royal Bank of Canada in the 1st quarter valued at approximately $332,201,000. Toronto Dominion Bank grew its stake in shares of 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 last quarter. JPMorgan Chase & Co. increased its holdings in Royal Bank of Canada by 40.7% in the second quarter. JPMorgan Chase & Co. now owns 4,383,438 shares of the financial services provider’s stock valued at $346,246,000 after purchasing an additional 1,267,015 shares during the period. State of Tennessee Treasury Department acquired a new stake in Royal Bank of Canada in the first quarter valued at $86,128,000. Finally, TD Asset Management Inc. increased 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 valued at $2,829,072,000 after purchasing an additional 491,062 shares during the period. 43.61% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on RY. Barclays reaffirmed a “sell” rating on shares of Royal Bank of Canada in a report on Wednesday, August 21st. 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. Scotiabank reiterated a “buy” rating on shares of Royal Bank of Canada in a report on Tuesday, August 20th. Zacks Investment Research raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Tuesday. Finally, BMO Capital Markets restated a “hold” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Royal Bank of Canada presently has an average rating of “Buy” and an average target price of $99.25.
Shares of RY stock traded up $1.03 during mid-day trading on Tuesday, hitting $77.93. The company’s stock had a trading volume of 42,350 shares, compared to its average volume of 748,967. The company’s fifty day simple moving average is $76.26 and its 200-day simple moving average is $77.69. Royal Bank of Canada has a 52 week low of $65.76 and a 52 week high of $81.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $110.80 billion, a PE ratio of 11.93, a P/E/G ratio of 2.02 and a beta of 1.11.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 21st. The financial services provider reported $1.69 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.04). The business had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $11.56 billion. Royal Bank of Canada had a net margin of 19.66% and a return on equity of 17.18%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.10 EPS. On average, equities analysts anticipate that Royal Bank of Canada will post 6.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be issued a dividend of $0.796 per share. This represents a $3.18 dividend on an annualized basis and a dividend yield of 4.09%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.76. The ex-dividend date is Wednesday, October 23rd. Royal Bank of Canada’s dividend payout ratio is presently 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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