Healthcare of Ontario Pension Plan Trust Fund Acquires 767,234 Shares of Royal Bank Of Canada $RY

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 25.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,734,189 shares of the financial services provider’s stock after acquiring an additional 767,234 shares during the quarter. Royal Bank Of Canada makes up 1.0% of Healthcare of Ontario Pension Plan Trust Fund’s holdings, making the stock its 17th biggest holding. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Royal Bank Of Canada were worth $603,444,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Harvest Fund Management Co. Ltd purchased a new position in Royal Bank Of Canada in the fourth quarter worth about $25,000. Tradewinds Capital Management LLC purchased a new stake in Royal Bank Of Canada during the fourth quarter valued at approximately $26,000. Key Financial Inc lifted its stake in shares of Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. Maseco LLP lifted its stake in shares of Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of Royal Bank Of Canada in the 3rd quarter worth approximately $27,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 0.3%

Shares of RY opened at $209.13 on Friday. The firm has a fifty day moving average price of $200.93 and a 200-day moving average price of $180.81. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $289.98 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.65 and a beta of 0.80. Royal Bank Of Canada has a 12-month low of $127.38 and a 12-month high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 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 company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter last year, the firm posted $3.12 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that Royal Bank Of Canada will post 11.45 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid a $1.76 dividend. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is currently 44.47%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RY. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. 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. Argus set a $225.00 price target on Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

About Royal Bank Of Canada

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.