Healthcare of Ontario Pension Plan Trust Fund Grows Holdings in Royal Bank Of Canada $RY

Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 25.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,734,189 shares of the financial services provider’s stock after purchasing an additional 767,234 shares during the quarter. Royal Bank Of Canada accounts for about 1.0% of Healthcare of Ontario Pension Plan Trust Fund’s investment portfolio, making the stock its 17th largest position. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.27% of Royal Bank Of Canada worth $603,444,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RY. Florida Trust Wealth Management Co lifted its stake in shares of Royal Bank Of Canada by 2.8% during the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock valued at $373,000 after buying an additional 60 shares in the last quarter. Echo45 Advisors LLC increased its stake in 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 buying an additional 60 shares in the last quarter. Key Financial Inc increased its stake in Royal Bank Of Canada by 63.0% in the 1st 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. Alta Capital Management LLC raised its holdings in Royal Bank Of Canada by 4.0% during the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after acquiring an additional 65 shares during the period. Finally, Aspen Grove Capital LLC lifted its position in shares of Royal Bank Of Canada by 0.3% in the first quarter. Aspen Grove Capital LLC now owns 26,506 shares of the financial services provider’s stock valued at $4,288,000 after acquiring an additional 69 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RY shares. Weiss Ratings lowered Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 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. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Trading Up 0.3%

Shares of RY stock opened at $209.13 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $289.98 billion, a price-to-earnings ratio of 18.79, a price-to-earnings-growth 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 stock’s 50-day moving average price is $200.93 and its 200-day moving average price is $180.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The company 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 firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.12 earnings per share. Equities research analysts predict that Royal Bank Of Canada will post 11.45 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio is currently 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.