Susquehanna Fundamental Investments LLC Purchases New Shares in Royal Bank of Canada (NYSE:RY)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,600 shares of the financial services provider’s stock, valued at approximately $3,787,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Royal Bank of Canada by 1.8% in the first quarter. Vanguard Group Inc. now owns 55,695,544 shares of the financial services provider’s stock worth $5,618,566,000 after acquiring an additional 964,898 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Royal Bank of Canada by 16.7% in the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock valued at $2,141,681,000 after buying an additional 2,901,033 shares during the period. CIBC Asset Management Inc increased its stake in shares of Royal Bank of Canada by 8.7% in the fourth quarter. CIBC Asset Management Inc now owns 13,490,419 shares of the financial services provider’s stock valued at $1,368,641,000 after buying an additional 1,076,974 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Royal Bank of Canada by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock valued at $1,289,274,000 after buying an additional 256,023 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Royal Bank of Canada by 3.9% during the 4th quarter. Wellington Management Group LLP now owns 11,006,207 shares of the financial services provider’s stock worth $1,118,448,000 after buying an additional 415,293 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RY has been the topic of a number of recent research reports. BMO Capital Markets lifted their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. 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. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Finally, Argus lifted their price objective on Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Stock Performance

RY stock opened at $124.26 on Monday. The firm has a market cap of $175.84 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 2.01 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $116.10 and a 200-day moving average price of $108.03. Royal Bank of Canada has a 1-year low of $77.90 and a 1-year high of $124.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.23. The firm had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. As a group, equities research analysts expect that Royal Bank of Canada will post 8.97 earnings per share 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 issued 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 52.11%.

Royal Bank of Canada Company Profile

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.