State of Wyoming Invests $1.80 Million in Royal Bank Of Canada $RY

State of Wyoming bought a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 11,150 shares of the financial services provider’s stock, valued at approximately $1,797,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Royal Bank Of Canada in the 4th quarter valued at $3,472,382,000. Alberta Investment Management Corp purchased a new position in shares of Royal Bank Of Canada in the 4th quarter worth $324,237,000. Vanguard Group Inc. boosted its holdings in Royal Bank Of Canada by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock valued at $11,529,165,000 after acquiring an additional 1,290,142 shares during the last quarter. Geode Capital Management LLC grew its position in Royal Bank Of Canada by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock valued at $2,389,773,000 after acquiring an additional 882,253 shares during the period. Finally, BCV Asset Management Inc. acquired a new stake in Royal Bank Of Canada during the fourth quarter worth about $136,790,000. 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 reports. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Weiss Ratings cut shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 29th. Finally, TD Securities reiterated a “buy” 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $211.53 on Thursday. Royal Bank Of Canada has a 1-year low of $127.38 and a 1-year high of $218.57. The business has a 50-day moving average of $199.92 and a 200-day moving average of $180.35. 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 company has a market capitalization of $293.31 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.67 and a beta of 0.80.

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, beating the consensus estimate 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 return on equity of 17.68% and a net margin of 15.92%.The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $3.12 EPS. On average, equities analysts anticipate that Royal Bank Of Canada will post 11.45 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders 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 an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.3%. Royal Bank Of Canada’s dividend payout ratio is presently 42.41%.

Royal Bank Of Canada 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.