PCM Encore LLC Acquires Shares of 6,790 Royal Bank Of Canada $RY

PCM Encore LLC acquired a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,790 shares of the financial services provider’s stock, valued at approximately $1,405,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new stake in Royal Bank Of Canada in the fourth quarter worth about $25,000. Key Financial Inc grew its holdings 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 acquiring an additional 63 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Royal Bank Of Canada during the 3rd quarter worth approximately $27,000. BOK Financial Private Wealth Inc. bought a new position in shares of Royal Bank Of Canada in the 2nd quarter worth approximately $28,000. Finally, 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 period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $205.27 on Friday. The company has a market capitalization of $284.63 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.64 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a one year low of $135.92 and a one year high of $218.57. The company’s 50-day moving average is $208.46 and its 200 day moving average is $186.53.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping 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 net margin of 15.92% and a return on equity of 17.68%. The business’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 earned $3.12 earnings per share. Sell-side analysts expect that Royal Bank Of Canada will post 11.47 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a $1.76 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.4%. Royal Bank Of Canada’s payout ratio is currently 44.56%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RY. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Argus set a $225.00 price objective on Royal Bank Of Canada in a research report on Thursday, June 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.