Plato Investment Management Ltd Takes Position in Royal Bank Of Canada $RY

Plato Investment Management Ltd acquired a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 47,573 shares of the financial services provider’s stock, valued at approximately $9,790,000.

Other large investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new stake in Royal Bank Of Canada in the 4th quarter worth $25,000. Bell Investment Advisors Inc bought a new stake in shares of Royal Bank Of Canada in the second quarter valued at about $32,000. Key Financial Inc grew its position in Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after buying an additional 63 shares in the last quarter. Maseco LLP increased its stake in Royal Bank Of Canada by 355.0% during the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 142 shares during the period. Finally, Johnson Financial Group Inc. bought a new position in Royal Bank Of Canada during the third quarter valued at about $27,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 0.1%

RY stock opened at $216.67 on Monday. Royal Bank Of Canada has a 1-year low of $135.92 and a 1-year high of $218.57. The firm has a market cap of $300.44 billion, a P/E ratio of 19.47, a P/E/G ratio of 1.71 and a beta of 0.80. The business’s 50 day moving average is $207.42 and its 200-day moving average is $185.32. The company has a current ratio of 0.82, a quick 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, topping the consensus estimate of $2.81 by $0.03. The business had revenue of $12.84 billion during 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%.Royal Bank Of Canada’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $3.12 EPS. Equities analysts anticipate that Royal Bank Of Canada will post 11.47 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed 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 is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is currently 44.56%.

Analyst Ratings Changes

A number of brokerages have commented on RY. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Finally, Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Royal Bank Of Canada has an average rating of “Moderate Buy” and a consensus price target of $225.00.

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.