Deutsche Bank AG Makes New $540.04 Million Investment in Royal Bank Of Canada $RY

Deutsche Bank AG acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,609,254 shares of the financial services provider’s stock, valued at approximately $540,037,000. Deutsche Bank AG owned about 0.19% of Royal Bank Of Canada as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. HighTower Advisors LLC lifted its holdings in shares of Royal Bank Of Canada by 18.5% in the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after acquiring an additional 15,046 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Royal Bank Of Canada by 6.1% in 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 purchasing an additional 368,534 shares during the last quarter. Rathbones Group PLC increased its stake in shares of Royal Bank Of Canada by 9.0% in the fourth quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock valued at $55,480,000 after buying an additional 26,782 shares during the period. Indivisible Partners acquired a new stake in Royal Bank Of Canada during the 4th quarter valued at approximately $7,335,000. Finally, MUFG Securities EMEA plc bought a new position in Royal Bank Of Canada during the fourth quarter worth $49,450,000. Institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RY has been the topic of a number of research reports. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Stock Performance

Shares of Royal Bank Of Canada stock opened at $216.19 on Tuesday. Royal Bank Of Canada has a 12 month low of $135.92 and a 12 month high of $218.57. The firm has a market capitalization of $299.77 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.71 and a beta of 0.80. The business has a fifty day simple moving average of $207.83 and a two-hundred day simple moving average of $185.66. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. The business had revenue of $12.84 billion for 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 company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.12 earnings per share. On average, equities analysts forecast that Royal Bank Of Canada will post 11.47 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business 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 $1.76 dividend. 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 3.3%. Royal Bank Of Canada’s payout ratio is presently 44.56%.

Royal Bank Of Canada Company 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.