Royal Bank Of Canada $RY Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,130,512 shares of the financial services provider’s stock after acquiring an additional 250,859 shares during the quarter. Royal Bank Of Canada makes up about 1.7% of The Manufacturers Life Insurance Company’s portfolio, making the stock its 7th biggest holding. The Manufacturers Life Insurance Company’s holdings in Royal Bank Of Canada were worth $1,959,185,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RY. Harvest Fund Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada in the fourth quarter valued at $25,000. Key Financial Inc lifted its stake in shares of Royal Bank Of Canada by 63.0% during the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after buying an additional 63 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Royal Bank Of Canada in the 3rd quarter valued at about $27,000. Maseco LLP grew its stake in 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 buying an additional 142 shares during the last quarter. Finally, Highline Wealth Partners LLC raised its holdings in Royal Bank Of Canada by 75.4% in the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 89 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Up 0.2%

Shares of RY opened at $209.54 on Tuesday. Royal Bank Of Canada has a 12 month low of $127.38 and a 12 month high of $218.57. The firm’s 50 day moving average is $201.42 and its 200-day moving average is $181.14. The stock has a market capitalization of $290.55 billion, a PE ratio of 18.83, a P/E/G ratio of 1.66 and a beta of 0.80. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.03. The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.12 earnings per share. Equities research analysts forecast that Royal Bank Of Canada will post 11.45 EPS 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. Stockholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio is currently 44.47%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RY. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 29th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Argus set a $225.00 price target on Royal Bank Of Canada in a report on Thursday, June 11th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

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.