Public Employees Retirement System of Ohio Has $46.11 Million Stake in Royal Bank Of Canada $RY

Public Employees Retirement System of Ohio grew its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 286,225 shares of the financial services provider’s stock after purchasing an additional 10,197 shares during the period. Public Employees Retirement System of Ohio’s holdings in Royal Bank Of Canada were worth $46,111,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd bought a new position in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC bought a new stake in Royal Bank Of Canada during the fourth quarter worth $26,000. Key Financial Inc grew its holdings in Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after buying an additional 63 shares in the last quarter. Maseco LLP raised its position in Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after buying an additional 142 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in Royal Bank Of Canada in the 3rd quarter valued at $27,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on RY. Weiss Ratings cut Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $209.13 on Friday. The stock has a 50 day moving average of $200.93 and a 200 day moving average of $180.81. The company has a market capitalization of $289.98 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.65 and a beta of 0.80. Royal Bank Of Canada has a 12 month low of $127.38 and a 12 month high of $218.57. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10.

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 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03. The business had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.12 earnings per share. As a group, sell-side analysts forecast that Royal Bank Of Canada will post 11.45 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be paid a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, July 27th. 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 (DPR) is presently 44.47%.

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.