one8zero8 LLC Invests $7.33 Million in Royal Bank Of Canada $RY

one8zero8 LLC purchased a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, Holdings Channel reports. The institutional investor purchased 35,394 shares of the financial services provider’s stock, valued at approximately $7,325,000. Royal Bank Of Canada comprises about 1.5% of one8zero8 LLC’s portfolio, making the stock its 15th biggest position.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Royal Bank Of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock worth $11,529,165,000 after acquiring an additional 1,290,142 shares during the last quarter. FIL Ltd raised its position in Royal Bank Of Canada by 1.1% in the fourth quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider’s stock valued at $3,965,133,000 after purchasing an additional 255,465 shares during the last quarter. Norges Bank bought a new position in Royal Bank Of Canada in the fourth quarter valued at about $3,472,382,000. Bank of Nova Scotia boosted its stake in shares of Royal Bank Of Canada by 1.6% during the fourth quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock valued at $2,596,904,000 after purchasing an additional 238,589 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Royal Bank Of Canada by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock valued at $2,389,773,000 after purchasing an additional 882,253 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Shares of RY opened at $207.78 on Thursday. Royal Bank Of Canada has a 1 year low of $135.92 and a 1 year high of $218.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $288.11 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.68 and a beta of 0.80. The business has a 50-day moving average of $208.34 and a 200-day moving average of $186.26.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. During the same period in the previous year, the firm earned $3.12 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts anticipate that Royal Bank Of Canada will post 11.47 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a $1.76 dividend. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio is presently 44.56%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RY shares. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday. Finally, Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada 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.