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

PCM Encore LLC purchased a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, HoldingsChannel.com reports. The fund purchased 6,790 shares of the financial services provider’s stock, valued at approximately $1,405,000.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 575 shares during the last quarter. AQR Capital Management LLC raised its stake in Royal Bank Of Canada by 60.9% during the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock valued at $1,321,000 after buying an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Royal Bank Of Canada by 57.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after buying an additional 1,934 shares during the period. Baird Financial Group Inc. lifted its holdings in shares of Royal Bank Of Canada by 39.1% during the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after buying an additional 3,811 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of Royal Bank Of Canada by 9.0% in the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock worth $6,279,000 after buying an additional 3,928 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on RY shares. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Finally, TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $205.27 on Friday. The company has a market capitalization of $284.63 billion, a P/E ratio of 18.44, a P/E/G ratio of 1.64 and a beta of 0.80. Royal Bank Of Canada has a 1-year low of $135.92 and a 1-year high of $218.57. The firm’s 50 day simple moving average is $208.46 and its two-hundred day simple moving average is $186.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same period in the prior year, the company posted $3.12 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Research 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 declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, July 27th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 44.56%.

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.