Sumitomo Mitsui Trust Holdings Inc. increased its position in Royal Bank Of Canada (NYSE:RY) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,238,508 shares of the company’s stock after buying an additional 17,870 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.29% of Royal Bank Of Canada worth $249,301,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GW Henssler & Associates Ltd. increased its stake in shares of Royal Bank Of Canada by 7.9% in the second quarter. GW Henssler & Associates Ltd. now owns 39,459 shares of the company’s stock worth $2,332,000 after buying an additional 2,883 shares in the last quarter. Cardinal Capital Management increased its stake in Royal Bank Of Canada by 2.8% in the second quarter. Cardinal Capital Management now owns 33,224 shares of the company’s stock valued at $1,963,000 after buying an additional 911 shares during the period. K.J. Harrison & Partners Inc increased its stake in Royal Bank Of Canada by 29.4% in the second quarter. K.J. Harrison & Partners Inc now owns 38,940 shares of the company’s stock valued at $2,285,000 after buying an additional 8,855 shares during the period. Country Club Trust Company n.a. increased its stake in Royal Bank Of Canada by 8.5% in the second quarter. Country Club Trust Company n.a. now owns 118,406 shares of the company’s stock valued at $6,997,000 after buying an additional 9,273 shares during the period. Finally, CIBC World Markets Inc. increased its stake in Royal Bank Of Canada by 0.4% in the second quarter. CIBC World Markets Inc. now owns 58,022,859 shares of the company’s stock valued at $3,428,571,000 after buying an additional 259,820 shares during the period. Institutional investors own 45.07% of the company’s stock.

Institutional Ownership by Quarter for Royal Bank Of Canada (NYSE:RY)

Shares of Royal Bank Of Canada (NYSE:RY) traded up 0.11% during midday trading on Wednesday, hitting $63.73. The stock had a trading volume of 806,940 shares. Royal Bank Of Canada has a one year low of $44.37 and a one year high of $64.31. The firm has a 50 day moving average price of $62.04 and a 200 day moving average price of $60.93. The stock has a market cap of $94.56 billion, a PE ratio of 12.27 and a beta of 1.14.

Royal Bank Of Canada (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 24th. The company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.39. The company had revenue of $10.26 billion for the quarter, compared to analyst estimates of $7.27 billion. Royal Bank Of Canada had a return on equity of 16.36% and a net margin of 22.91%. During the same quarter last year, the company earned $1.66 EPS. On average, equities analysts forecast that Royal Bank Of Canada will post $5.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Shareholders of record on Wednesday, October 26th will be given a $0.6449 dividend. The ex-dividend date is Monday, October 24th. This represents a $2.58 dividend on an annualized basis and a yield of 4.05%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $0.62. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 50.20%.

Several equities analysts have recently commented on RY shares. Desjardins restated a “buy” rating and set a $86.00 price target on shares of Royal Bank Of Canada in a research note on Friday, August 26th. Canaccord Genuity upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, October 13th. TD Securities restated a “hold” rating and set a $86.00 price target (up previously from $81.00) on shares of Royal Bank Of Canada in a research note on Friday, August 26th. Bank of America Corp. restated an “underperform” rating on shares of Royal Bank Of Canada in a research note on Tuesday, July 12th. Finally, Argus started coverage on Royal Bank Of Canada in a research note on Friday, July 1st. They set a “buy” rating and a $69.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $83.70.

About Royal Bank Of Canada

Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets.

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