UniSuper Management Pty Ltd Has $63 Million Stock Holdings in Royal Bank Of Canada $RY

UniSuper Management Pty Ltd increased its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 369,514 shares of the financial services provider’s stock after acquiring an additional 7,400 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Royal Bank Of Canada were worth $62,998,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada during the fourth quarter valued at $25,000. Tradewinds Capital Management LLC acquired a new position in shares of Royal Bank Of Canada during the fourth quarter valued at $26,000. Johnson Financial Group Inc. acquired a new position in shares of Royal Bank Of Canada during the third quarter valued at $27,000. Highline Wealth Partners LLC lifted its stake in shares of Royal Bank Of Canada by 75.4% during the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 89 shares during the period. Finally, Cornerstone Planning Group LLC lifted its stake in shares of 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 acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RY shares. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Argus set a $225.00 price target on Royal Bank Of Canada in a research note on Thursday. Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Trading Up 0.8%

NYSE:RY opened at $199.16 on Friday. Royal Bank Of Canada has a 1-year low of $126.02 and a 1-year high of $200.05. The business’s 50-day moving average price is $181.40 and its two-hundred day moving average price is $171.56. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $276.79 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.56 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. During the same quarter in the prior year, the firm posted $3.12 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts expect that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid a $1.76 dividend. 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 yield of 3.5%. Royal Bank Of Canada’s payout ratio is currently 42.41%.

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.