Assenagon Asset Management S.A. Has $7.33 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)
Assenagon Asset Management S.A. boosted its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 47.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,100 shares of the financial services provider's stock after buying an additional 20,974 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Royal Bank of Canada were worth $7,332,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Muirfield Wealth Advisors LLC grew its stake in Royal Bank of Canada by 0.7% in the first quarter. Muirfield Wealth Advisors LLC now owns 16,802 shares of the financial services provider's stock valued at $1,894,000 after purchasing an additional 122 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Royal Bank of Canada by 10.2% in the first quarter. Farther Finance Advisors LLC now owns 8,956 shares of the financial services provider's stock valued at $1,018,000 after purchasing an additional 831 shares in the last quarter. KMG Fiduciary Partners LLC grew its stake in Royal Bank of Canada by 10.8% in the first quarter. KMG Fiduciary Partners LLC now owns 19,467 shares of the financial services provider's stock valued at $2,194,000 after purchasing an additional 1,891 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Royal Bank of Canada by 2.8% in the first quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider's stock valued at $378,000 after purchasing an additional 91 shares in the last quarter. Finally, Verum Partners LLC grew its stake in Royal Bank of Canada by 0.8% in the first quarter. Verum Partners LLC now owns 19,674 shares of the financial services provider's stock valued at $2,218,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.
A number of research firms have weighed in on RY. National Bank Financial downgraded Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Scotiabank began coverage on Royal Bank of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating for the company. Wall Street Zen downgraded Royal Bank of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank of Canada in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Royal Bank of Canada has an average rating of "Moderate Buy" and a consensus target price of $193.00.
Get Our Latest Research Report on RY
Shares of NYSE RY opened at $127.80 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12 month low of $102.52 and a 12 month high of $129.46. The stock has a 50 day moving average of $121.79 and a 200-day moving average of $119.93. The company has a market capitalization of $180.27 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.80 and a beta of 0.89.
Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). The firm had revenue of $11.38 billion during the quarter, compared to the consensus estimate of $15.77 billion. Royal Bank of Canada had a net margin of 12.08% and a return on equity of 15.26%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.92 earnings per share. As a group, equities research analysts predict that Royal Bank of Canada will post 9.16 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be paid a $1.1152 dividend. The ex-dividend date is Thursday, July 24th. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a yield of 3.49%. Royal Bank of Canada's payout ratio is 49.78%.
Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.
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