Nykredit A S Makes New $69.52 Million Investment in Royal Bank Of Canada $RY

Nykredit A S purchased a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 2nd quarter, HoldingsChannel reports. The firm purchased 335,847 shares of the financial services provider’s stock, valued at approximately $69,520,000.

A number of other hedge funds have also recently bought and sold shares of RY. Harvest Fund Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada during the fourth quarter valued at about $25,000. 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. Johnson Financial Group Inc. bought a new position in Royal Bank Of Canada during the third quarter valued at about $27,000. BOK Financial Private Wealth Inc. acquired a new position in Royal Bank Of Canada in the 2nd quarter valued at approximately $28,000. Finally, Maseco LLP raised its holdings in Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Trading Up 2.2%

RY stock opened at $207.95 on Thursday. Royal Bank Of Canada has a 1-year low of $143.13 and a 1-year high of $218.57. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $209.21 and its 200-day moving average is $188.71. The firm has a market cap of $288.34 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.79 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, August 27th. The financial services provider reported $3.07 EPS for the quarter, topping the consensus estimate of $2.89 by $0.18. The business had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. Equities analysts anticipate that Royal Bank Of Canada will post 12.07 earnings per share for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be issued a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 43.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RY. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

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.