Ieq Capital LLC Makes New $4.12 Million Investment in Royal Bank Of Canada $RY

Ieq Capital LLC acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 19,915 shares of the financial services provider’s stock, valued at approximately $4,122,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Royal Bank Of Canada in the fourth quarter worth approximately $3,472,382,000. Deutsche Bank AG bought a new stake in Royal Bank Of Canada during the 2nd quarter valued at $540,037,000. Alberta Investment Management Corp bought a new stake in Royal Bank Of Canada during the 4th quarter valued at $324,237,000. Assenagon Asset Management S.A. boosted its position in Royal Bank Of Canada by 3,329.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,589,605 shares of the financial services provider’s stock valued at $329,002,000 after buying an additional 1,543,260 shares during the period. Finally, BlackRock Inc. purchased a new stake in Royal Bank Of Canada during the 2nd quarter valued at $303,751,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Down 0.6%

NYSE:RY opened at $203.99 on Tuesday. The company has a 50-day moving average price of $208.67 and a 200-day moving average price of $187.02. The stock has a market cap of $282.85 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 1.54 and a beta of 0.80. 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 has a 12 month low of $136.10 and a 12 month high of $218.57.

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, 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 company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same period 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. Equities analysts predict that Royal Bank Of Canada will post 11.59 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, July 27th were issued a dividend of $1.76 per share. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date was Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 44.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods began coverage on Royal Bank Of Canada in a report on Friday. They issued a “market perform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $225.00.

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.