Wetherby Asset Management Inc. increased its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 24.5% during the second quarter, Holdings Channel reports. The institutional investor owned 15,281 shares of the financial services provider’s stock after buying an additional 3,007 shares during the period. Wetherby Asset Management Inc.’s holdings in Royal Bank Of Canada were worth $1,108,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Canada Pension Plan Investment Board increased its stake in Royal Bank Of Canada by 2,168.5% in the second quarter. Canada Pension Plan Investment Board now owns 2,452,201 shares of the financial services provider’s stock worth $177,793,000 after buying an additional 2,344,101 shares during the period. Vanguard Group Inc. increased its stake in Royal Bank Of Canada by 4.6% in the first quarter. Vanguard Group Inc. now owns 31,678,190 shares of the financial services provider’s stock worth $2,309,657,000 after buying an additional 1,402,437 shares during the period. Beutel Goodman & Co Ltd. increased its stake in Royal Bank Of Canada by 3.9% in the first quarter. Beutel Goodman & Co Ltd. now owns 18,815,431 shares of the financial services provider’s stock worth $1,368,526,000 after buying an additional 698,500 shares during the period. OMERS ADMINISTRATION Corp increased its stake in Royal Bank Of Canada by 30.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 2,774,400 shares of the financial services provider’s stock worth $201,561,000 after buying an additional 645,700 shares during the period. Finally, FMR LLC increased its stake in Royal Bank Of Canada by 1.9% in the first quarter. FMR LLC now owns 32,153,083 shares of the financial services provider’s stock worth $2,342,604,000 after buying an additional 596,315 shares during the period. 45.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Royal Bank Of Canada (NYSE RY) opened at 74.23 on Thursday. Royal Bank Of Canada has a 52-week low of $60.50 and a 52-week high of $76.01. The stock has a market cap of $108.15 billion, a PE ratio of 12.73 and a beta of 1.07. The company’s 50-day moving average price is $73.87 and its 200-day moving average price is $71.99.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 25th. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.34 by $0.08. Royal Bank Of Canada had a return on equity of 16.69% and a net margin of 23.16%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $6.88 billion. During the same period in the prior year, the business posted $1.66 earnings per share. Analysts expect that Royal Bank Of Canada will post $5.87 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Wednesday, July 26th will be issued a dividend of $0.6439 per share. This represents a $2.58 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Monday, July 24th. Royal Bank Of Canada’s dividend payout ratio is 49.36%.

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A number of brokerages have recently weighed in on RY. Zacks Investment Research upgraded Royal Bank Of Canada from a “sell” rating to a “buy” rating and set a $83.00 price target for the company in a research report on Wednesday. BidaskClub cut Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Canaccord Genuity began coverage on Royal Bank Of Canada in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Finally, National Bank Financial restated a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, May 18th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Royal Bank Of Canada currently has a consensus rating of “Hold” and an average price target of $85.63.

About Royal Bank Of Canada

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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Institutional Ownership by Quarter for Royal Bank Of Canada (NYSE:RY)

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