BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $325.15 Million Stock Position in Royal Bank Of Canada $RY

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,886,014 shares of the financial services provider’s stock after acquiring an additional 123,582 shares during the period. Royal Bank Of Canada comprises approximately 2.0% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s portfolio, making the stock its 7th biggest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Royal Bank Of Canada were worth $325,146,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Royal Bank Of Canada by 5.7% in the first quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider’s stock valued at $7,048,307,000 after acquiring an additional 3,387,971 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Royal Bank Of Canada by 0.9% in the first quarter. TD Asset Management Inc now owns 31,515,404 shares of the financial services provider’s stock valued at $3,549,520,000 after acquiring an additional 277,466 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Royal Bank Of Canada by 8.0% in the first quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider’s stock valued at $1,892,975,000 after acquiring an additional 1,249,589 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Royal Bank Of Canada by 2.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,431,721 shares of the financial services provider’s stock valued at $1,287,927,000 after acquiring an additional 319,270 shares in the last quarter. Finally, Scotia Capital Inc. grew its holdings in shares of Royal Bank Of Canada by 0.4% in the first quarter. Scotia Capital Inc. now owns 8,924,206 shares of the financial services provider’s stock valued at $1,003,385,000 after acquiring an additional 33,183 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Trading Up 1.2%

NYSE:RY opened at $137.8750 on Friday. The company has a market cap of $193.75 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.57 and a beta of 0.89. The stock’s fifty day moving average price is $131.87 and its two-hundred day moving average price is $123.31. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $138.34. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.05). Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%.The business had revenue of $11.38 billion during the quarter, compared to analysts’ expectations of $15.77 billion. During the same quarter last year, the business posted $2.92 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Thursday, July 24th were given a $1.1152 dividend. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.03. The ex-dividend date was Thursday, July 24th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 50.22%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RY shares. National Bankshares reaffirmed a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. CIBC reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Scotiabank initiated coverage on Royal Bank Of Canada in a research note on Thursday, May 15th. They issued a “sector outperform” rating on the stock. Finally, Wall Street Zen downgraded Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $193.00.

Royal Bank Of Canada Profile

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.