Traders Purchase High Volume of Royal Bank of Canada Call Options (RY)

Royal Bank of Canada (NYSE:RY) (TSE:RY) saw unusually large options trading activity on Monday. Traders bought 2,137 call options on the stock. This is an increase of 1,495% compared to the average daily volume of 134 call options.

Several hedge funds have recently added to or reduced their stakes in RY. Arrowstreet Capital Limited Partnership raised its holdings in shares of Royal Bank of Canada by 25,974.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,267,110 shares of the financial services provider’s stock valued at $381,962,000 after acquiring an additional 5,246,910 shares in the last quarter. Public Sector Pension investment Board raised its holdings in shares of Royal Bank of Canada by 13,079.3% in the second quarter. Public Sector Pension investment Board now owns 2,886,401 shares of the financial services provider’s stock valued at $209,273,000 after acquiring an additional 2,864,500 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Royal Bank of Canada by 4.1% in the second quarter. Vanguard Group Inc. now owns 32,981,480 shares of the financial services provider’s stock valued at $2,391,817,000 after acquiring an additional 1,303,290 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of Royal Bank of Canada by 26.8% in the third quarter. APG Asset Management N.V. now owns 4,991,537 shares of the financial services provider’s stock valued at $385,311,000 after acquiring an additional 1,053,845 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in Royal Bank of Canada by 6.2% in the third quarter. Great West Life Assurance Co. Can now owns 13,119,435 shares of the financial services provider’s stock worth $1,012,699,000 after purchasing an additional 769,771 shares in the last quarter. Hedge funds and other institutional investors own 40.63% of the company’s stock.

Shares of Royal Bank of Canada (NYSE:RY) opened at $80.84 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $117,001.88, a PE ratio of 14.03, a P/E/G ratio of 1.81 and a beta of 1.07. Royal Bank of Canada has a fifty-two week low of $66.66 and a fifty-two week high of $81.00.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be issued a $0.7157 dividend. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $2.86 annualized dividend and a dividend yield of 3.54%. Royal Bank of Canada’s payout ratio is currently 49.83%.

Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. BMO Capital Markets reiterated a “hold” rating and set a $102.00 target price on shares of Royal Bank of Canada in a research report on Wednesday, November 29th. Canaccord Genuity reiterated a “hold” rating and set a $105.00 target price on shares of Royal Bank of Canada in a research report on Wednesday, November 29th. Scotiabank reiterated a “hold” rating and set a $101.00 target price on shares of Royal Bank of Canada in a research report on Wednesday, November 22nd. Finally, Macquarie assumed coverage on Royal Bank of Canada in a research report on Tuesday, October 24th. They set an “underperform” rating for the company. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $97.75.

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Royal Bank of Canada Company 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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