Maryland State Retirement & Pension System Acquires 15,247 Shares of Royal Bank Of Canada $RY

Maryland State Retirement & Pension System increased its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 11.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 148,514 shares of the financial services provider’s stock after purchasing an additional 15,247 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Royal Bank Of Canada were worth $21,883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased 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 purchasing an additional 575 shares in the last quarter. AQR Capital Management LLC raised its stake in 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 buying an additional 4,460 shares during the period. Voya Investment Management LLC boosted its holdings in Royal Bank Of Canada by 26.9% in the first quarter. Voya Investment Management LLC now owns 20,087 shares of the financial services provider’s stock worth $2,262,000 after acquiring an additional 4,254 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Royal Bank Of Canada by 57.7% in the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after acquiring an additional 1,934 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Royal Bank Of Canada by 4.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,964 shares of the financial services provider’s stock valued at $4,638,000 after acquiring an additional 1,549 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Wednesday, October 8th. Jefferies Financial Group lowered shares of Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Cowen raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Finally, UBS Group reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $169.14 on Friday. The company has a market capitalization of $236.38 billion, a PE ratio of 16.86, a PEG ratio of 1.21 and a beta of 0.79. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average price is $161.90 and its 200-day moving average price is $147.96. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $174.61.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. The firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $12.12 billion. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.07 EPS. On average, equities analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Monday, January 26th will be given a dividend of $1.64 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date is Monday, January 26th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.9%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 44.07%.

Royal Bank Of Canada Profile

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.