Public Sector Pension Investment Board Boosts Holdings in Royal Bank Of Canada $RY

by · The Markets Daily

Public Sector Pension Investment Board raised its stake in shares of Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 1,318.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,936,920 shares of the financial services provider’s stock after purchasing an additional 1,800,400 shares during the period. Royal Bank Of Canada accounts for 1.1% of Public Sector Pension Investment Board’s portfolio, making the stock its 11th largest position. Public Sector Pension Investment Board’s holdings in Royal Bank Of Canada were worth $254,759,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after buying an additional 575 shares during the period. HighTower Advisors LLC lifted its stake in shares of Royal Bank Of Canada by 4.4% in the first quarter. HighTower Advisors LLC now owns 106,672 shares of the financial services provider’s stock worth $12,024,000 after acquiring an additional 4,456 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Royal Bank Of Canada during the 1st quarter valued at approximately $32,000. Dimensional Fund Advisors LP grew its holdings in Royal Bank Of Canada by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,246,579 shares of the financial services provider’s stock worth $253,233,000 after acquiring an additional 74,198 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Royal Bank Of Canada by 7.2% in the first quarter. American Century Companies Inc. now owns 241,196 shares of the financial services provider’s stock valued at $27,169,000 after buying an additional 16,265 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $165.85 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The firm’s fifty day simple moving average is $150.19 and its 200 day simple moving average is $140.72. The firm has a market capitalization of $232.30 billion, a PE ratio of 16.54, a PEG ratio of 1.20 and a beta of 0.80. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $167.91.

Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last announced its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $12.12 billion. During the same quarter in the prior year, the company earned $3.07 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 4.0%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date of this dividend is Monday, January 26th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 44.07%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RY shares. UBS Group restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Tuesday, November 25th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. Raymond James Financial began coverage on shares of Royal Bank Of Canada in a research report on Monday, November 24th. They set a “moderate buy” rating for the company. Cibc World Mkts lowered Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Finally, National Bankshares reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.00.

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Royal Bank Of Canada Profile

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Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

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