Mackenzie Financial Corp Has $3.19 Billion Stock Position in Royal Bank Of Canada $RY

Mackenzie Financial Corp decreased its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,618,422 shares of the financial services provider’s stock after selling 767,493 shares during the period. Royal Bank Of Canada makes up 3.9% of Mackenzie Financial Corp’s holdings, making the stock its biggest holding. Mackenzie Financial Corp’s holdings in Royal Bank Of Canada were worth $3,185,611,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RY. Norges Bank bought a new position in Royal Bank Of Canada during the second quarter worth $2,599,262,000. Canerector Inc. grew its holdings in Royal Bank Of Canada by 20,412.0% in the third quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock worth $1,964,188,000 after purchasing an additional 13,267,800 shares during the period. Fisher Asset Management LLC increased its stake in Royal Bank Of Canada by 1,218.0% in the second quarter. Fisher Asset Management LLC now owns 5,723,581 shares of the financial services provider’s stock valued at $752,937,000 after purchasing an additional 5,289,330 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Royal Bank Of Canada in the second quarter valued at $329,983,000. Finally, Vanguard Group Inc. raised its holdings in shares of Royal Bank Of Canada by 3.9% during the second quarter. Vanguard Group Inc. now owns 65,008,684 shares of the financial services provider’s stock valued at $8,567,752,000 after purchasing an additional 2,437,164 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Up 1.2%

Shares of NYSE RY opened at $165.39 on Wednesday. The stock has a market capitalization of $231.17 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.23 and a beta of 0.79. The company has a 50-day moving average price of $169.22 and a 200-day moving average price of $157.49. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $176.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.83 and a quick ratio of 0.83.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The company had revenue of $13.18 billion during the quarter, compared to the consensus estimate of $12.60 billion. During the same period in the previous year, the firm posted $3.62 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada’s payout ratio is currently 45.74%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RY. UBS Group reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Tuesday, November 25th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. National Bank Financial reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, December 4th. TD Securities raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Finally, Jefferies Financial Group downgraded Royal Bank Of Canada from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Company Profile

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.