Royal Bank of Canada (NYSE:RY) Shares Bought by DekaBank Deutsche Girozentrale

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DekaBank Deutsche Girozentrale increased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 78.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 891,283 shares of the financial services provider’s stock after acquiring an additional 390,959 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Royal Bank of Canada were worth $70,444,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerebellum GP LLC acquired a new stake in Royal Bank of Canada in the first quarter valued at $303,000. Raymond James Financial Services Advisors Inc. raised its stake in Royal Bank of Canada by 1.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 337,256 shares of the financial services provider’s stock valued at $25,471,000 after buying an additional 6,000 shares in the last quarter. Midwest Professional Planners LTD. acquired a new stake in Royal Bank of Canada in the first quarter valued at $226,000. Rockefeller Capital Management L.P. acquired a new stake in Royal Bank of Canada in the first quarter valued at $388,000. Finally, Meridian Wealth Management LLC acquired a new stake in Royal Bank of Canada in the first quarter valued at $30,000. Institutional investors and hedge funds own 41.43% of the company’s stock.

Shares of RY stock opened at $76.13 on Wednesday. The business’s 50-day moving average price is $79.04. The stock has a market capitalization of $109.09 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. Royal Bank of Canada has a 1 year low of $65.76 and a 1 year high of $81.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 0.92.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 23rd. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.04. The company had revenue of $8.63 billion for the quarter, compared to analyst estimates of $7.60 billion. Royal Bank of Canada had a return on equity of 17.36% and a net margin of 20.04%. During the same quarter last year, the company posted $2.06 earnings per share. On average, research analysts forecast that Royal Bank of Canada will post 6.75 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be issued a dividend of $0.7596 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Wednesday, July 24th. Royal Bank of Canada’s payout ratio is 47.78%.

A number of research firms have weighed in on RY. Barclays restated a “sell” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. Zacks Investment Research upgraded Royal Bank of Canada from a “sell” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Thursday, August 1st. Desjardins restated a “buy” rating and issued a $111.00 price target on shares of Royal Bank of Canada in a research note on Thursday, May 16th. Finally, BMO Capital Markets restated a “hold” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Royal Bank of Canada has a consensus rating of “Buy” and an average target price of $100.00.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

Further Reading: How do CD ladders protect against rising interest rates?

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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