Y Intercept Hong Kong Ltd Takes Position in Royal Bank Of Canada $RY

Y Intercept Hong Kong Ltd purchased a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 42,583 shares of the financial services provider’s stock, valued at approximately $6,889,000.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of 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 worth $11,529,165,000 after acquiring an additional 1,290,142 shares during the period. FIL Ltd lifted its stake in shares of Royal Bank Of Canada by 1.1% in the 4th quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider’s stock valued at $3,965,133,000 after purchasing an additional 255,465 shares during the period. Norges Bank purchased a new position in shares of Royal Bank Of Canada in the 4th quarter valued at approximately $3,472,382,000. Bank of Nova Scotia boosted its position in shares of Royal Bank Of Canada by 1.6% during the fourth quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock valued at $2,596,904,000 after purchasing an additional 238,589 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Royal Bank Of Canada by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock valued at $2,389,773,000 after purchasing an additional 882,253 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RY has been the subject of several recent research reports. Weiss Ratings lowered Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 29th. 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. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $204.64 on Friday. Royal Bank Of Canada has a 1-year low of $127.38 and a 1-year high of $209.37. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The business has a fifty day moving average price of $191.45 and a 200-day moving average price of $176.46. The company has a market capitalization of $284.39 billion, a PE ratio of 18.39, a PEG ratio of 1.62 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced 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 for the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter in the previous year, the business posted $3.12 EPS. Royal Bank Of Canada’s revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts expect that Royal Bank Of Canada will post 11.45 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company 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 $1.76 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s payout ratio is currently 42.41%.

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.