APG Asset Management N.V. Has $16.32 Million Holdings in Royal Bank of Canada (NYSE:RY)

APG Asset Management N.V. grew its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 232.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 164,347 shares of the financial services provider’s stock after acquiring an additional 114,900 shares during the period. APG Asset Management N.V.’s holdings in Royal Bank of Canada were worth $16,322,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Mount Yale Investment Advisors LLC raised its position in Royal Bank of Canada by 1.6% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 92 shares during the last quarter. Shell Asset Management Co. lifted its stake in shares of Royal Bank of Canada by 3.8% during the first quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 100 shares during the period. HB Wealth Management LLC boosted its holdings in Royal Bank of Canada by 1.9% in the second quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 100 shares during the last quarter. Muirfield Wealth Advisors LLC increased its position in Royal Bank of Canada by 0.6% in the second quarter. Muirfield Wealth Advisors LLC now owns 16,437 shares of the financial services provider’s stock worth $1,749,000 after purchasing an additional 101 shares during the period. Finally, Sollinda Capital Management LLC raised its holdings in Royal Bank of Canada by 2.8% during the 2nd quarter. Sollinda Capital Management LLC now owns 3,674 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 101 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Price Performance

RY opened at $124.26 on Friday. The company has a fifty day simple moving average of $116.10 and a 200 day simple moving average of $107.98. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The stock has a market cap of $175.84 billion, a P/E ratio of 15.42, a P/E/G ratio of 2.01 and a beta of 0.86. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $124.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The company had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. On average, research analysts expect that Royal Bank of Canada will post 8.97 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is currently 52.11%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RY shares. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Argus upped their target price on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. UBS Group assumed coverage on Royal Bank of Canada in a research report on Tuesday, July 2nd. They issued a “buy” rating on the stock. Finally, BMO Capital Markets upped their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.50.

About Royal Bank of Canada

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.