847,778 Shares in Royal Bank Of Canada $RY Bought by Korea Investment CORP

Korea Investment CORP purchased a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, Holdings Channel reports. The firm purchased 847,778 shares of the financial services provider’s stock, valued at approximately $175,489,000.

Several other institutional investors have also recently modified their holdings of RY. Vanguard Group Inc. grew its position in Royal Bank Of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock valued at $11,529,165,000 after acquiring an additional 1,290,142 shares during the last quarter. FIL Ltd lifted its stake in shares of Royal Bank Of Canada by 1.1% in the 4th quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider’s stock valued at $3,965,133,000 after acquiring an additional 255,465 shares during the last quarter. Norges Bank purchased a new stake in Royal Bank Of Canada during the 4th quarter valued at about $3,472,382,000. Bank of Nova Scotia boosted its holdings in Royal Bank Of Canada by 1.6% during the 4th quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock valued at $2,596,904,000 after acquiring an additional 238,589 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Royal Bank Of Canada by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock worth $2,389,773,000 after purchasing an additional 882,253 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Trading Down 0.2%

NYSE RY opened at $204.86 on Friday. The firm has a market capitalization of $284.06 billion, a PE ratio of 18.41, a P/E/G ratio of 1.62 and a beta of 0.80. The stock’s 50 day moving average is $208.56 and its 200 day moving average is $186.66. Royal Bank Of Canada has a twelve month low of $135.97 and a twelve month high of $218.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.12 EPS. Research analysts forecast that Royal Bank Of Canada will post 11.47 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is 44.56%.

Analyst Upgrades and Downgrades

RY has been the topic of a number of analyst reports. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday. Finally, Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Company 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.