Nykredit A S Makes New Investment in Royal Bank Of Canada $RY

Nykredit A S purchased a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, Holdings Channel reports. The firm purchased 276,247 shares of the financial services provider’s stock, valued at approximately $57,183,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cornerstone Financial Management LLC increased its position in shares of Royal Bank Of Canada by 45.2% during the second quarter. Cornerstone Financial Management LLC now owns 212 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 66 shares during the last quarter. HB Wealth Management LLC grew its stake in Royal Bank Of Canada by 1.3% in the second quarter. HB Wealth Management LLC now owns 6,830 shares of the financial services provider’s stock worth $1,414,000 after purchasing an additional 85 shares in the last quarter. Rose Capital Advisors LLC acquired a new position in Royal Bank Of Canada in the second quarter worth about $599,000. Highland Investment Advisors LLC bought a new stake in Royal Bank Of Canada in the second quarter valued at about $31,000. Finally, Syon Capital LLC raised its stake in Royal Bank Of Canada by 2.3% during the second quarter. Syon Capital LLC now owns 11,763 shares of the financial services provider’s stock valued at $2,435,000 after buying an additional 270 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RY. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Finally, Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $203.34 on Friday. The firm’s 50-day moving average is $209.22 and its 200-day moving average is $191.62. The company has a market cap of $281.95 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.83 and a beta of 0.79. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. Royal Bank Of Canada has a 52-week low of $143.13 and a 52-week high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.18. The business had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. Equities research analysts anticipate that Royal Bank Of Canada will post 11.83 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be given a $1.76 dividend. The ex-dividend date is Monday, October 26th. This represents a $7.04 annualized dividend and a yield of 3.5%. Royal Bank Of Canada’s payout ratio is presently 43.39%.

About Royal Bank Of Canada

Royal Bank of Canada (RBC) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it is one of Canada’s largest banks and serves individuals, businesses, institutions and governments.

RBC provides personal and commercial banking products, including deposit accounts, mortgages, consumer and business loans, credit cards and payment services. Through its wealth management operations, the company offers investment advice, brokerage, asset management, trust and estate services, and private banking.