Royal Bank Of Canada $RY Stake Lifted by Canerector Inc.

Canerector Inc. lifted its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 20,412.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,332,800 shares of the financial services provider’s stock after purchasing an additional 13,267,800 shares during the period. Royal Bank Of Canada accounts for 3.8% of Canerector Inc.’s investment portfolio, making the stock its 5th biggest holding. Canerector Inc.’s holdings in Royal Bank Of Canada were worth $1,964,188,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in Royal Bank Of Canada by 1.6% during the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 74 shares during the period. Advisory Resource Group grew its stake in shares of Royal Bank Of Canada by 0.8% during the 3rd quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider’s stock worth $1,342,000 after acquiring an additional 75 shares during the period. Ballentine Partners LLC grew its stake in shares of Royal Bank Of Canada by 1.5% during the 3rd quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock worth $759,000 after acquiring an additional 75 shares during the period. Knights of Columbus Asset Advisors LLC increased its holdings in Royal Bank Of Canada by 2.4% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 3,396 shares of the financial services provider’s stock worth $500,000 after acquiring an additional 80 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in Royal Bank Of Canada by 2.6% during the third quarter. Benjamin Edwards Inc. now owns 3,247 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 81 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $165.85 on Wednesday. The company’s 50 day simple moving average is $169.91 and its two-hundred day simple moving average is $156.51. 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 has a 1 year low of $106.10 and a 1 year high of $176.19. The stock has a market capitalization of $231.81 billion, a PE ratio of 15.87, a P/E/G ratio of 1.27 and a beta of 0.79.

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

Royal Bank Of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be issued a $1.64 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 4.0%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 45.74%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RY. National Bank Financial reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, December 4th. Raymond James Financial reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, February 13th. UBS Group reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Tuesday, November 25th. TD Cowen raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Finally, Zacks Research cut Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company 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.