Plato Investment Management Ltd Makes New $9.79 Million Investment in Royal Bank Of Canada $RY

Plato Investment Management Ltd acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, HoldingsChannel reports. The firm acquired 47,573 shares of the financial services provider’s stock, valued at approximately $9,790,000.

A number of other institutional investors also recently modified their holdings of the company. Echo45 Advisors LLC boosted its holdings in shares of Royal Bank Of Canada by 5.0% in the 1st quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 60 shares in the last quarter. Key Financial Inc increased its holdings in Royal Bank Of Canada by 63.0% during the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 63 shares in the last quarter. Apella Capital LLC raised its position in Royal Bank Of Canada by 3.1% in the 2nd quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 64 shares during the last quarter. Alta Capital Management LLC boosted its stake in Royal Bank Of Canada by 4.0% in the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 65 shares in the last quarter. Finally, Fiduciary Financial Group LLC boosted its stake in Royal Bank Of Canada by 3.5% in the second quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note 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. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Finally, TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Trading Up 0.1%

Shares of RY opened at $216.67 on Monday. The stock’s fifty day simple moving average is $207.42 and its 200-day simple moving average is $185.32. The firm has a market capitalization of $300.44 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.71 and a beta of 0.80. Royal Bank Of Canada has a 12-month low of $135.92 and a 12-month high of $218.57. 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 announced 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. The firm had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $3.12 earnings per share. As a group, research analysts predict that Royal Bank Of Canada will post 11.47 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm 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 dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 3.2%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio is presently 44.56%.

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.