Danske Bank A S Purchases Shares of 11,358 Royal Bank Of Canada $RY

Danske Bank A S bought a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 11,358 shares of the financial services provider’s stock, valued at approximately $2,343,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RY. HighTower Advisors LLC lifted its position in shares of Royal Bank Of Canada by 18.5% during the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock valued at $16,407,000 after purchasing an additional 15,046 shares in the last quarter. Fisher Asset Management LLC grew its position in Royal Bank Of Canada by 6.1% during the fourth quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after buying an additional 368,534 shares in the last quarter. Rathbones Group PLC lifted its holdings in shares of Royal Bank Of Canada by 9.0% during the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock worth $55,480,000 after acquiring an additional 26,782 shares during the last quarter. Indivisible Partners bought a new stake in Royal Bank Of Canada during the fourth quarter worth about $7,335,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Royal Bank Of Canada in the 4th quarter worth approximately $49,450,000. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Price Performance

RY opened at $204.86 on Friday. The business has a fifty day moving average of $208.56 and a 200 day moving average of $186.66. The stock has a market cap of $284.06 billion, a P/E ratio of 18.41, a PEG ratio of 1.62 and a beta of 0.80. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 52-week low of $135.97 and a 52-week high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share 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%.The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $3.12 earnings per share. As a group, sell-side analysts anticipate that Royal Bank Of Canada will post 11.47 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio is presently 44.56%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RY. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Royal Bank Of Canada in a report on Friday. They issued a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.