Pictet Asset Management Holding SA Increases Stock Holdings in Royal Bank Of Canada $RY

Pictet Asset Management Holding SA increased its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 628,758 shares of the financial services provider’s stock after buying an additional 39,604 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Royal Bank Of Canada were worth $101,308,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Harvest Fund Management Co. Ltd purchased a new position in Royal Bank Of Canada during the 4th quarter worth $25,000. Tradewinds Capital Management LLC bought a new position in shares of Royal Bank Of Canada during the fourth quarter valued at about $26,000. Johnson Financial Group Inc. bought a new position in shares of Royal Bank Of Canada during the third quarter valued at about $27,000. Maseco LLP boosted its holdings in Royal Bank Of Canada by 355.0% during the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares during the last quarter. Finally, Highline Wealth Partners LLC boosted its holdings in Royal Bank Of Canada by 75.4% during the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 89 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Stock Up 0.1%

Royal Bank Of Canada stock opened at $203.00 on Monday. The firm has a 50 day moving average price of $188.63 and a 200-day moving average price of $175.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a twelve month low of $127.38 and a twelve month high of $204.82. The company has a market capitalization of $282.12 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.61 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the prior year, the business earned $3.12 earnings per share. Royal Bank Of Canada’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities analysts predict that Royal Bank Of Canada will post 11.45 EPS for the current year.

Royal Bank Of Canada Increases Dividend

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

About Royal Bank Of Canada

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.