Danica Pension Livsforsikringsaktieselskab Takes Position in Royal Bank Of Canada $RY

Danica Pension Livsforsikringsaktieselskab bought a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 103,028 shares of the financial services provider’s stock, valued at approximately $30,257,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in shares of Royal Bank Of Canada in the fourth quarter valued at about $25,000. Key Financial Inc boosted its holdings in shares of 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 purchasing an additional 63 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Royal Bank Of Canada during the third quarter worth about $27,000. Maseco LLP grew its stake in shares of Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares during the last quarter. Finally, Bell Investment Advisors Inc purchased a new position in Royal Bank Of Canada during the 2nd quarter valued at about $32,000. 45.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Argus set a $225.00 target price on Royal Bank Of Canada in a research note on Thursday, June 11th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Finally, Weiss Ratings upgraded 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 issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Stock Down 1.4%

NYSE:RY opened at $213.08 on Wednesday. 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 firm’s 50-day moving average price is $208.14 and its 200-day moving average price is $185.98. The company has a market capitalization of $295.45 billion, a PE ratio of 19.14, a P/E/G ratio of 1.71 and a beta of 0.80. Royal Bank Of Canada has a 1-year low of $135.92 and a 1-year high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The company had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same period last year, the company posted $3.12 EPS. Royal Bank Of Canada’s revenue was up 11.4% on a year-over-year basis. On average, equities analysts predict that Royal Bank Of Canada will post 11.47 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a $1.76 dividend. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is presently 44.56%.

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.