Picton Mahoney Asset Management Acquires 63,717 Shares of Royal Bank Of Canada $RY

Picton Mahoney Asset Management grew its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,577,593 shares of the financial services provider’s stock after acquiring an additional 63,717 shares during the period. Royal Bank Of Canada comprises about 3.4% of Picton Mahoney Asset Management’s portfolio, making the stock its largest holding. Picton Mahoney Asset Management owned 0.18% of Royal Bank Of Canada worth $379,831,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of RY. Norges Bank acquired a new stake in shares of Royal Bank Of Canada during the second quarter worth $2,599,262,000. Fisher Asset Management LLC increased its stake in Royal Bank Of Canada by 1,218.0% in the 2nd quarter. Fisher Asset Management LLC now owns 5,723,581 shares of the financial services provider’s stock worth $752,937,000 after purchasing an additional 5,289,330 shares in the last quarter. Vanguard Group Inc. raised its holdings in Royal Bank Of Canada by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 65,008,684 shares of the financial services provider’s stock worth $8,567,752,000 after buying an additional 2,437,164 shares during the period. Geode Capital Management LLC lifted its stake in Royal Bank Of Canada by 20.2% during the second quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock valued at $1,517,123,000 after buying an additional 1,910,492 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Royal Bank Of Canada by 1,318.8% in the second quarter. Public Sector Pension Investment Board now owns 1,936,920 shares of the financial services provider’s stock worth $254,759,000 after buying an additional 1,800,400 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Trading Down 1.6%

NYSE RY opened at $165.85 on Wednesday. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $176.19. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $231.81 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.79. The firm’s fifty day simple moving average is $169.91 and its 200-day simple moving average is $156.51.

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

Royal Bank Of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be paid 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 payout ratio is presently 45.74%.

Analyst Ratings Changes

A number of research firms have recently issued reports on RY. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Zacks Research downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. UBS Group reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Tuesday, November 25th. National Bank Financial reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, December 4th. Finally, TD Securities raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada 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.