Keybank National Association OH bought a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,117 shares of the financial services provider’s stock, valued at approximately $247,000.

Several other institutional investors have also recently bought and sold shares of the company. TD Asset Management Inc. grew its position in shares of Royal Bank of Canada by 1.3% in the first quarter. TD Asset Management Inc. now owns 37,487,585 shares of the financial services provider’s stock valued at $2,829,072,000 after purchasing an additional 491,062 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Royal Bank of Canada by 10.4% in the first quarter. Toronto Dominion Bank now owns 19,629,673 shares of the financial services provider’s stock valued at $1,481,311,000 after purchasing an additional 1,853,129 shares during the last quarter. Beutel Goodman & Co Ltd. grew its position in shares of Royal Bank of Canada by 0.3% in the first quarter. Beutel Goodman & Co Ltd. now owns 17,339,886 shares of the financial services provider’s stock valued at $1,308,186,000 after purchasing an additional 57,822 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Royal Bank of Canada by 1.0% in the first quarter. Great West Life Assurance Co. Can now owns 12,876,450 shares of the financial services provider’s stock valued at $968,742,000 after purchasing an additional 128,337 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Royal Bank of Canada by 0.5% in the first quarter. Acadian Asset Management LLC now owns 8,231,004 shares of the financial services provider’s stock valued at $621,173,000 after purchasing an additional 39,746 shares during the last quarter. 41.47% of the stock is currently owned by institutional investors.

Shares of NYSE:RY opened at $75.05 on Thursday. The company has a market capitalization of $108.08 billion, a P/E ratio of 11.49, a P/E/G ratio of 1.95 and a beta of 1.09. Royal Bank of Canada has a 1 year low of $65.76 and a 1 year high of $81.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.92 and a quick ratio of 0.92. The business’s 50 day simple moving average is $78.31 and its 200 day simple moving average is $77.84.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 23rd. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.04. The business had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $7.60 billion. Royal Bank of Canada had a return on equity of 17.36% and a net margin of 20.04%. During the same quarter in the prior year, the business posted $2.06 earnings per share. On average, sell-side analysts anticipate that Royal Bank of Canada will post 6.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a dividend of $0.796 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.76. This represents a $3.18 annualized dividend and a yield of 4.24%. Royal Bank of Canada’s dividend payout ratio is presently 47.78%.

RY has been the topic of a number of analyst reports. Barclays reissued a “sell” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. BMO Capital Markets reissued a “hold” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. Desjardins reissued a “buy” rating and set a $111.00 price target on shares of Royal Bank of Canada in a research report on Thursday, May 16th. Finally, Zacks Investment Research raised Royal Bank of Canada from a “sell” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $100.00.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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