26,130 Shares in Royal Bank Of Canada $RY Acquired by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd bought a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 26,130 shares of the financial services provider’s stock, valued at approximately $5,409,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 575 shares in the last quarter. AQR Capital Management LLC increased its stake in Royal Bank Of Canada by 60.9% in the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock valued at $1,321,000 after purchasing an additional 4,460 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Royal Bank Of Canada by 57.7% during the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 1,934 shares during the period. Baird Financial Group Inc. raised its holdings in shares of Royal Bank Of Canada by 39.1% during the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after purchasing an additional 3,811 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of Royal Bank Of Canada by 9.0% during the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock worth $6,279,000 after purchasing an additional 3,928 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RY has been the subject of a number of research analyst reports. Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. Keefe, Bruyette & Woods assumed coverage on Royal Bank Of Canada in a report on Friday. They issued a “market perform” rating on the stock. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday. Finally, TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Price Performance

RY stock opened at $204.86 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. The business has a 50-day simple moving average of $208.56 and a two-hundred day simple moving average of $186.79. The company has a market capitalization of $284.06 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 1.54 and a beta of 0.80. Royal Bank Of Canada has a 52-week low of $135.97 and a 52-week high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. During the same quarter last year, the company earned $3.12 earnings per share. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. Research analysts expect that Royal Bank Of Canada will post 11.59 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm 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. The ex-dividend date of this dividend is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio (DPR) is 44.56%.

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.