PensionDanmark Pensionsforsikringsaktieselskab Purchases 20,000 Shares of Royal Bank Of Canada $RY

PensionDanmark Pensionsforsikringsaktieselskab boosted its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 14.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,096 shares of the financial services provider’s stock after purchasing an additional 20,000 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Royal Bank Of Canada were worth $33,554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Harvest Fund Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada during the fourth quarter valued at $25,000. Key Financial Inc boosted its holdings in shares of Royal Bank Of Canada by 63.0% in the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 63 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Royal Bank Of Canada during the 3rd quarter worth $27,000. Maseco LLP raised its holdings in shares of Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in Royal Bank Of Canada by 55.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after buying an additional 88 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RY. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Finally, TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Trading Up 0.1%

Shares of RY opened at $211.38 on Friday. Royal Bank Of Canada has a 52-week low of $132.03 and a 52-week high of $218.57. The stock has a market cap of $293.10 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.80. The firm’s fifty day moving average is $204.87 and its two-hundred day moving average is $183.44. 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 issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.12 earnings per share. Research analysts forecast that Royal Bank Of Canada will post 11.41 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is currently 44.56%.

About Royal Bank Of Canada

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.