OMERS ADMINISTRATION Corp Takes Position in Royal Bank Of Canada $RY

OMERS ADMINISTRATION Corp acquired a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 2,080,487 shares of the financial services provider’s stock, valued at approximately $430,659,000. Royal Bank Of Canada comprises 2.6% of OMERS ADMINISTRATION Corp’s investment portfolio, making the stock its 7th biggest holding.

Several other hedge funds have also recently bought and sold shares of RY. Echo45 Advisors LLC boosted its stake in Royal Bank Of Canada by 5.0% during the 1st quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 60 shares during the period. Key Financial Inc increased its stake 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. Apella Capital LLC increased its stake in shares of Royal Bank Of Canada by 3.1% in the second quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 64 shares during the period. Alta Capital Management LLC raised its holdings in shares of Royal Bank Of Canada by 4.0% during the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after buying an additional 65 shares during the last quarter. Finally, Fiduciary Financial Group LLC raised its holdings in shares of Royal Bank Of Canada by 3.5% during the second quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the financial services provider’s stock valued at $419,000 after buying an additional 68 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Trading Down 0.2%

Royal Bank Of Canada stock opened at $204.86 on Monday. The firm has a 50 day simple moving average of $208.56 and a 200-day simple moving average of $186.79. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $284.06 billion, a PE 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 12-month low of $135.97 and a 12-month high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter in the previous year, the company earned $3.12 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities 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 company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, July 27th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio is 44.56%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Argus set a $225.00 price target on Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Keefe, Bruyette & Woods started coverage on shares of Royal Bank Of Canada in a research note on Friday. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $225.00.

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.