Deutsche Bank AG Makes New $540.04 Million Investment in Royal Bank Of Canada $RY

Deutsche Bank AG purchased a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, Holdings Channel.com reports. The firm purchased 2,609,254 shares of the financial services provider’s stock, valued at approximately $540,037,000.

Other large investors have also made changes to their positions in the company. HighTower Advisors LLC lifted its holdings in Royal Bank Of Canada by 18.5% in the 4th quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after purchasing an additional 15,046 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Royal Bank Of Canada by 6.1% during the fourth quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock valued at $1,086,601,000 after buying an additional 368,534 shares during the last quarter. Rathbones Group PLC lifted its holdings in shares of Royal Bank Of Canada by 9.0% in the fourth quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock worth $55,480,000 after buying an additional 26,782 shares in the last quarter. Indivisible Partners bought a new position in shares of Royal Bank Of Canada during the fourth quarter worth $7,335,000. Finally, MUFG Securities EMEA plc purchased a new position in Royal Bank Of Canada during the fourth quarter valued at $49,450,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RY has been the topic of a number of research analyst reports. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. One 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. According to MarketBeat.com, Royal Bank Of Canada has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Trading Down 0.2%

RY opened at $216.19 on Tuesday. The stock’s fifty day moving average is $207.83 and its two-hundred day moving average is $185.66. The company has a market capitalization of $299.77 billion, a P/E ratio of 19.42, a PEG ratio of 1.71 and a beta of 0.80. Royal Bank Of Canada has a 52 week low of $135.92 and a 52 week 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 posted 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 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 for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.12 EPS. Analysts forecast that Royal Bank Of Canada will post 11.47 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders 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 annualized dividend and a dividend yield of 3.3%. Royal Bank Of Canada’s payout ratio is currently 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.