Alberta Investment Management Corp Acquires New Shares in Royal Bank Of Canada $RY

Alberta Investment Management Corp acquired a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, Holdings Channel.com reports. The fund acquired 1,901,887 shares of the financial services provider’s stock, valued at approximately $324,237,000. Royal Bank Of Canada comprises approximately 1.0% of Alberta Investment Management Corp’s holdings, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RY. Brighton Jones LLC raised its stake in Royal Bank Of Canada by 33.1% during the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after buying an additional 575 shares during the last quarter. AQR Capital Management LLC raised its stake in Royal Bank Of Canada by 60.9% during the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock valued at $1,321,000 after buying an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Royal Bank Of Canada by 57.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after buying an additional 1,934 shares during the last quarter. Baird Financial Group Inc. raised its stake in Royal Bank Of Canada by 39.1% during the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after buying an additional 3,811 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in Royal Bank Of Canada by 9.0% during the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock valued at $6,279,000 after buying an additional 3,928 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RY shares. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research note on Thursday. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 1st. Finally, TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Trading Down 0.3%

Shares of RY stock opened at $198.93 on Tuesday. Royal Bank Of Canada has a 52-week low of $126.02 and a 52-week high of $201.74. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $276.46 billion, a PE ratio of 17.87, a PEG ratio of 1.57 and a beta of 0.81. The stock has a fifty day simple moving average of $182.83 and a two-hundred day simple moving average of $172.24.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The business had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same quarter in the prior year, the business posted $3.12 EPS. Royal Bank Of Canada’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, analysts predict that Royal Bank Of Canada will post 11.52 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a dividend of $1.76 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. Royal Bank Of Canada’s payout ratio is currently 42.41%.

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.