OMERS ADMINISTRATION Corp Takes Position in Royal Bank Of Canada $RY

OMERS ADMINISTRATION Corp purchased a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,080,487 shares of the financial services provider’s stock, valued at approximately $430,659,000. Royal Bank Of Canada accounts for approximately 2.6% of OMERS ADMINISTRATION Corp’s investment portfolio, making the stock its 7th largest position. OMERS ADMINISTRATION Corp owned 0.15% of Royal Bank Of Canada as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada during the fourth quarter worth about $25,000. Key Financial Inc boosted its position in shares of Royal Bank Of Canada by 63.0% in 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 during the period. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada in the third quarter valued at about $27,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Royal Bank Of Canada in the second quarter valued at about $28,000. Finally, Maseco LLP raised its holdings in shares of Royal Bank Of Canada by 355.0% during the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after buying an additional 142 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Royal Bank Of Canada in a research note on Friday. They set a “market perform” rating on the stock. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday. Finally, TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $204.86 on Monday. The company has a market cap of $284.06 billion, a PE ratio of 18.41, a P/E/G ratio of 1.54 and a beta of 0.80. Royal Bank Of Canada has a fifty-two week low of $135.97 and a fifty-two week high of $218.57. The firm has a 50-day simple moving average of $208.56 and a 200 day simple moving average of $186.79. 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 (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter last year, the company posted $3.12 earnings per share. Royal Bank Of Canada’s revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 11.59 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a $1.76 dividend. This is a positive change 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 annualized dividend and a dividend yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio (DPR) is 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.