Lansforsakringar Fondforvaltning AB publ Grows Position in Royal Bank Of Canada $RY

Lansforsakringar Fondforvaltning AB publ boosted its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 328,455 shares of the financial services provider’s stock after buying an additional 3,656 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Royal Bank Of Canada were worth $52,927,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Royal Bank Of Canada during the 4th quarter valued at about $3,472,382,000. Canerector Inc. lifted its position in shares of Royal Bank Of Canada by 20,412.0% in the third quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock worth $1,964,188,000 after buying an additional 13,267,800 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter worth about $324,237,000. Quadrature Capital Ltd boosted its stake in Royal Bank Of Canada by 603.1% during the third quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider’s stock valued at $257,183,000 after buying an additional 1,498,000 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Royal Bank Of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock valued at $11,529,165,000 after buying an additional 1,290,142 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RY has been the topic of several recent research reports. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Finally, TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Up 1.0%

NYSE RY opened at $204.83 on Tuesday. 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 $127.38 and a 52 week high of $204.98. The firm has a market capitalization of $284.66 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.61 and a beta of 0.81. The company has a fifty day moving average of $189.21 and a two-hundred day moving average of $175.41.

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 (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $12.74 billion. During the same quarter last year, the business earned $3.12 EPS. The business’s revenue was up 11.4% on a year-over-year basis. On average, analysts predict that Royal Bank Of Canada will post 11.45 earnings per share for the current 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 paid a dividend of $1.76 per share. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is currently 45.82%.

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.