PensionDanmark Pensionsforsikringsaktieselskab Raises Position in Royal Bank Of Canada $RY

PensionDanmark Pensionsforsikringsaktieselskab lifted its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 14.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,096 shares of the financial services provider’s stock after purchasing an additional 20,000 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Royal Bank Of Canada were worth $33,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RY. Brighton Jones LLC raised its stake in shares of Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 575 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Royal Bank Of Canada by 60.9% in the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after purchasing an additional 4,460 shares during the period. Sivia Capital Partners LLC boosted its holdings in Royal Bank Of Canada by 57.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after buying an additional 1,934 shares during the period. Baird Financial Group Inc. raised its stake in Royal Bank Of Canada by 39.1% during the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after purchasing an additional 3,811 shares during the period. Finally, Cerity Partners LLC lifted its holdings in Royal Bank Of Canada by 9.0% in the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock worth $6,279,000 after purchasing an additional 3,928 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RY has been the topic of several recent analyst reports. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Trading Up 0.1%

RY stock opened at $211.38 on Friday. The firm has a fifty day moving average price of $204.87 and a 200 day moving average price of $183.44. Royal Bank Of Canada has a fifty-two week low of $132.03 and a fifty-two week high of $218.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $293.10 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released 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 for the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the prior year, the firm earned $3.12 earnings per share. Royal Bank Of Canada’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts anticipate that Royal Bank Of Canada will post 11.41 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

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

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.