Public Employees Retirement System of Ohio Makes New Investment in Royal Bank Of Canada $RY

Public Employees Retirement System of Ohio bought a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 302,664 shares of the financial services provider’s stock, valued at approximately $62,649,000.

A number of other large investors also recently made changes to their positions in RY. Harvest Fund Management Co. Ltd bought a new position in shares of Royal Bank Of Canada in the 4th quarter worth $25,000. Key Financial Inc lifted its stake in Royal Bank Of Canada by 63.0% in the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after buying an additional 63 shares during the period. Johnson Financial Group Inc. acquired a new position in Royal Bank Of Canada in the third quarter valued at about $27,000. BOK Financial Private Wealth Inc. bought a new position in Royal Bank Of Canada during the second quarter worth about $28,000. Finally, Maseco LLP boosted its holdings in Royal Bank Of Canada by 355.0% during the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after buying an additional 142 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Down 1.2%

NYSE:RY opened at $204.63 on Friday. Royal Bank Of Canada has a fifty-two week low of $143.13 and a fifty-two week 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 stock has a market capitalization of $283.74 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.56 and a beta of 0.80. The business’s 50-day simple moving average is $208.98 and its 200-day simple moving average is $187.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.18. The business had revenue of $13.22 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%. Sell-side analysts expect that Royal Bank Of Canada will post 11.59 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be issued a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s dividend payout ratio is 44.56%.

Trending Headlines about Royal Bank Of Canada

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Royal Bank reported quarterly earnings of $3.07 per share, exceeding the consensus estimate of $2.89 and rising from $2.79 a year earlier. Net margin was 15.92%, while return on equity reached 17.68%. Royal Bank Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Reported third-quarter net income rose to approximately C$6.02 billion, or C$4.23 per share, from C$5.41 billion, or C$3.75 per share, a year earlier—an all-time record. Royal Bank of Canada Notches Record Income
• Positive Sentiment: Management credited strength in capital markets and commercial banking for helping drive the results, with RBC described as exceeding expectations and “raising the bar.” RBC Tops Expectations on Strength in Capital Markets and Commercial Banking
• Positive Sentiment: RBC declared a quarterly dividend of C$1.76 per share, equivalent to an annualized yield of roughly 3.4% based on the current share price. Investors of record on October 26 are scheduled to receive payment on November 24.
• Neutral Sentiment: The strong results were part of a broader trend among Canada’s major banks, with RBC, TD and CIBC all surpassing profit estimates. This validates sector strength but may also temper the impact of RBC’s results as investors compare performance across peers. Canada’s RBC, TD and CIBC Top Bank Profit Estimates

Analysts Set New Price Targets

RY has been the subject of several analyst reports. Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods assumed coverage on shares of Royal Bank Of Canada in a report on Friday, August 21st. They set a “market perform” rating for the company. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.