Royal Bank Of Canada $RY Shares Purchased by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. boosted its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 413,777 shares of the financial services provider’s stock after buying an additional 6,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Royal Bank Of Canada were worth $81,588,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Bank of Nova Scotia acquired a new stake in Royal Bank Of Canada in the 2nd quarter valued at about $2,549,157,000. The Manufacturers Life Insurance Company acquired a new stake in Royal Bank Of Canada during the second quarter valued at approximately $2,296,717,000. Canada Pension Plan Investment Board bought a new stake in Royal Bank Of Canada during the second quarter worth approximately $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Royal Bank Of Canada in the second quarter worth approximately $2,260,820,000. Finally, Legal & General Group Plc bought a new position in shares of Royal Bank Of Canada in the second quarter valued at $1,645,758,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RY shares. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Argus set a $225.00 price target on Royal Bank Of Canada in a research report on Thursday, June 11th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Trading Down 0.4%

RY opened at $190.48 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $263.62 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.71 and a beta of 0.80. The firm’s fifty day simple moving average is $205.43 and its 200 day simple moving average is $195.20. Royal Bank Of Canada has a 12 month low of $143.13 and a 12 month high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%.The business had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.98 billion. As a group, research analysts anticipate that Royal Bank Of Canada will post 11.83 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be paid a C$1.76 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 annualized dividend and a yield of 3.7%. Royal Bank Of Canada’s dividend payout ratio (DPR) is 43.39%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.