Public Employees Retirement System of Ohio Acquires Shares in Royal Bank of Canada

The Public Employees Retirement System of Ohio has initiated a new investment in the Royal Bank of Canada (NYSE:RY, TSE:RY) during the third quarter, as revealed in a recent filing with the Securities and Exchange Commission (SEC). The retirement system acquired 336,727 shares of the financial services company, amounting to an investment of approximately $42,072,000.

Other institutional investors have also made adjustments to their holdings in Royal Bank of Canada recently. For instance, PNC Financial Services Group Inc. increased its stake in the bank by 6.3% during the third quarter, acquiring an additional 4,980 shares to reach a total holding of 84,045 shares worth around $10,483,000. Similarly, Legal & General Group Plc raised its position by 1.8% in the second quarter, now owning a substantial 10,504,593 shares valued at $1,118,150,000 after adding 190,341 shares in the last quarter.

Creative Planning also expanded its holdings by 6.4% in the third quarter, increasing to 211,411 shares with a total value of $26,369,000 after purchasing an additional 12,693 shares. Meanwhile, CIBC Asset Management Inc. grew its stake by 0.9%, owning 13,622,472 shares valued at $1,706,833,000 following an acquisition of 124,348 shares. Finally, Algert Global LLC established a new position in the Royal Bank valued at approximately $706,000. In total, institutional and hedge funds control about 45.31% of the company's stock.

Royal Bank of Canada Price Performance

As of Tuesday, shares of the Royal Bank of Canada traded at $126.06. The bank has a market capitalization of $178.21 billion, a price-to-earnings ratio of 15.26, and a price-to-earnings-growth ratio of 1.89, with a beta of 0.86. The financials show a debt-to-equity ratio of 0.11, and both the quick and current ratios at 0.86. The 50-day moving average price stands at $123.84, while the 200-day average price is $116.32. Over the past year, the share price has ranged from a low of $91.77 to a high of $128.05.

Royal Bank of Canada Increases Quarterly Dividend

Recently, the Royal Bank of Canada announced a quarterly dividend, scheduled for payment on February 24th. Shareholders recorded on January 27th will receive a dividend of $1.0522 per share, an increase from the previous quarterly dividend of $1.03. This translates into an annualized dividend of $4.21, yielding 3.34%. The ex-dividend date is set for January 27th, and the current dividend payout ratio stands at 52.91%.

Analyst Recommendations

Royal Bank of Canada's Profile

Royal Bank of Canada operates globally as a diversified financial services company. Its Personal & Commercial Banking division provides a wide range of services, including checking and savings accounts, home equity financing, personal loans, private banking options, as well as investment products and services for both individuals and commercial enterprises.

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