Oslo Pensjonsforsikring AS Takes Position in Royal Bank Of Canada $RY

Oslo Pensjonsforsikring AS acquired a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,400 shares of the financial services provider’s stock, valued at approximately $548,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Andra AP fonden lifted its stake in shares of Royal Bank Of Canada by 875.5% during the 1st quarter. Andra AP fonden now owns 157,077 shares of the financial services provider’s stock worth $25,412,000 after purchasing an additional 140,974 shares during the period. Summit Global Investments grew its position in shares of Royal Bank Of Canada by 26.0% in the first quarter. Summit Global Investments now owns 4,516 shares of the financial services provider’s stock valued at $731,000 after purchasing an additional 931 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Royal Bank Of Canada in the first quarter valued at $134,000. Dimensional Fund Advisors LP increased its stake in Royal Bank Of Canada by 7.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,576,368 shares of the financial services provider’s stock valued at $416,779,000 after purchasing an additional 188,620 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Royal Bank Of Canada by 4.1% in the first quarter. Parallel Advisors LLC now owns 7,258 shares of the financial services provider’s stock valued at $1,174,000 after purchasing an additional 287 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on RY. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings cut shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 29th. Finally, TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $210.99 on Wednesday. Royal Bank Of Canada has a 52-week low of $127.38 and a 52-week high of $218.57. The firm has a fifty day moving average of $199.29 and a 200-day moving average of $180.06. The firm has a market capitalization of $292.56 billion, a P/E ratio of 18.96, a PEG ratio of 1.67 and a beta of 0.80. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The business had revenue of $12.84 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $3.12 EPS. As a group, analysts predict that Royal Bank Of Canada will post 11.45 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a $1.76 dividend. This represents a $7.04 annualized dividend and a yield of 3.3%. 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. Royal Bank Of Canada’s dividend payout ratio is 44.47%.

Royal Bank Of Canada Company Profile

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.