Prudential PLC maintained its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,100 shares of the financial services provider’s stock at the end of the 2nd quarter. Prudential PLC’s holdings in Royal Bank Of Canada were worth $805,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. purchased a new position in Royal Bank Of Canada during the 1st quarter valued at about $123,000. Proficio Capital Partners LLC increased its position in Royal Bank Of Canada by 125.3% during the 1st quarter. Proficio Capital Partners LLC now owns 2,098 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,167 shares during the period. Jolley Asset Management LLC increased its position in Royal Bank Of Canada by 1.0% during the 2nd quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 25 shares during the period. Mckinley Capital Management LLC Delaware purchased a new position in Royal Bank Of Canada during the 2nd quarter valued at about $191,000. Finally, RFG Advisory Group LLC purchased a new position in Royal Bank Of Canada during the 2nd quarter valued at about $201,000. Institutional investors own 40.64% of the company’s stock.
Royal Bank Of Canada (NYSE RY) opened at 79.37 on Thursday. Royal Bank Of Canada has a 12 month low of $60.92 and a 12 month high of $79.46. The stock has a 50 day moving average of $75.92 and a 200-day moving average of $72.75. The stock has a market cap of $115.72 billion, a P/E ratio of 13.18 and a beta of 1.06.
Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.01). Royal Bank Of Canada had a return on equity of 16.63% and a net margin of 22.98%. The firm had revenue of $7.43 billion for the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. On average, equities analysts forecast that Royal Bank Of Canada will post $5.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be paid a dividend of $0.724 per share. This represents a $2.90 dividend on an annualized basis and a dividend yield of 3.65%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $0.64. The ex-dividend date is Wednesday, October 25th. Royal Bank Of Canada’s dividend payout ratio is presently 50.36%.
RY has been the topic of a number of research reports. Zacks Investment Research raised shares of Royal Bank Of Canada from a “sell” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Wednesday, August 9th. Scotiabank downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report on Monday, August 21st. Howard Weil downgraded shares of Royal Bank Of Canada to a “sector perform” rating in a research report on Monday, August 21st. BidaskClub raised shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Finally, Canaccord Genuity started coverage on shares of Royal Bank Of Canada in a research report on Tuesday, July 18th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $80.00.
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Royal Bank Of Canada Profile
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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