Mediolanum International Funds Ltd Purchases 21,097 Shares of Royal Bank Of Canada $RY

Mediolanum International Funds Ltd lifted its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 76.2% in the first quarter, Holdings Channel.com reports. The firm owned 48,798 shares of the financial services provider’s stock after purchasing an additional 21,097 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Royal Bank Of Canada were worth $7,705,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of RY. HighTower Advisors LLC boosted its holdings in shares of Royal Bank Of Canada by 18.5% during the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after purchasing an additional 15,046 shares during the period. Fisher Asset Management LLC increased its holdings in Royal Bank Of Canada by 6.1% during the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock valued at $1,086,601,000 after purchasing an additional 368,534 shares during the period. Rathbones Group PLC increased its holdings in Royal Bank Of Canada by 9.0% during the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock valued at $55,480,000 after purchasing an additional 26,782 shares during the period. Indivisible Partners bought a new position in Royal Bank Of Canada during the 4th quarter valued at approximately $7,335,000. Finally, MUFG Securities EMEA plc purchased a new stake in Royal Bank Of Canada in the 4th quarter worth approximately $49,450,000. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research report 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, Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Down 2.3%

RY stock opened at $210.39 on Tuesday. Royal Bank Of Canada has a fifty-two week low of $127.38 and a fifty-two week high of $218.57. The business’s 50 day moving average price is $198.71 and its two-hundred day moving average price is $179.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $291.72 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.71 and a beta of 0.80.

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, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter last year, the business posted $3.12 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts forecast that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.3%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend 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.