Lansforsakringar Fondforvaltning AB publ Purchases 14,068 Shares of Royal Bank Of Canada $RY

Lansforsakringar Fondforvaltning AB publ boosted its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 320,839 shares of the financial services provider’s stock after buying an additional 14,068 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Royal Bank Of Canada were worth $47,298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RY. Vanguard Group Inc. raised its stake in Royal Bank Of Canada by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock valued at $9,777,472,000 after acquiring an additional 1,329,637 shares during the period. Norges Bank bought a new position in shares of Royal Bank Of Canada during the second quarter worth approximately $2,599,262,000. Geode Capital Management LLC lifted its holdings in Royal Bank Of Canada by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock worth $1,517,123,000 after purchasing an additional 1,910,492 shares during the last quarter. Scotia Capital Inc. lifted its holdings in Royal Bank Of Canada by 1.6% during the 2nd quarter. Scotia Capital Inc. now owns 9,065,967 shares of the financial services provider’s stock worth $1,191,770,000 after purchasing an additional 141,761 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Royal Bank Of Canada by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider’s stock valued at $1,074,879,000 after purchasing an additional 740,276 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Stock Performance

Shares of Royal Bank Of Canada stock opened at $172.47 on Friday. The company’s 50 day moving average price is $169.68 and its two-hundred day moving average price is $154.63. The firm has a market capitalization of $241.05 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.29 and a beta of 0.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $176.19.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. The business had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $12.12 billion. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.07 EPS. On average, equities analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, January 26th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s payout ratio is presently 47.66%.

Wall Street Analysts Forecast Growth

RY has been the topic of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. TD Securities upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. UBS Group restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Tuesday, November 25th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday. Finally, National Bank Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, December 4th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

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.