Royal Bank Of Canada $RY Stock Purchased by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR increased its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 6.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 63,296 shares of the financial services provider’s stock after purchasing an additional 4,031 shares during the period. Generali Asset Management SPA SGR’s holdings in Royal Bank Of Canada were worth $12,443,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RY. The Manufacturers Life Insurance Company purchased a new stake in shares of Royal Bank Of Canada during the second quarter worth about $2,296,717,000. Legal & General Group Plc acquired a new position in shares of Royal Bank Of Canada during the second quarter valued at about $1,645,758,000. M. Kulyk & Associates LLC purchased a new position in shares of Royal Bank Of Canada in the 2nd quarter valued at approximately $2,953,000. Korea Investment CORP purchased a new position in shares of Royal Bank Of Canada in the 2nd quarter valued at approximately $175,489,000. Finally, Nykredit A S purchased a new position in shares of Royal Bank Of Canada in the 2nd quarter valued at approximately $57,183,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 0.4%

Royal Bank Of Canada stock opened at $203.19 on Wednesday. The business’s 50-day simple moving average is $201.81 and its two-hundred day simple moving average is $188.60. Royal Bank Of Canada has a fifty-two week low of $143.38 and a fifty-two week high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.18. The firm had revenue of $13.22 billion during the quarter, compared to analyst estimates of $12.98 billion. As a group, analysts expect that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be given a C$1.76 dividend. The ex-dividend date is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%.

Key Royal Bank Of Canada News

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Royal Bank of Canada received a Moderate Buy consensus rating with a stated price target of US$225, suggesting analysts see further upside. Royal Bank of Canada stock draws Moderate Buy consensus at USD 225.00
• Positive Sentiment: Coverage examining whether RBC justifies its blue-chip status highlights investor interest in the bank’s scale, earnings resilience, diversification and dividend profile—factors that can support demand for the shares. Does Royal Bank of Canada Justify Its Blue-chip Status?
• Positive Sentiment: Analysis of RBC’s banking and wealth-management operations focuses on changes in these businesses, with the wealth-management segment providing an additional source of relatively diversified fee revenue. What Is Changing in RBC’s Banking and Wealth-Management Segments?
• Neutral Sentiment: Dividend-focused coverage reinforces RBC’s appeal to income-oriented investors amid market volatility. The company’s latest reported quarter also exceeded analyst expectations, with EPS of $3.07 versus a $2.89 consensus and revenue of $13.22 billion versus $12.98 billion. Royal Bank of Canada’s Dividend Analysis
• Negative Sentiment: Investors are assessing Canadian banks against a potential Bank of Canada rate reset. Changes in interest rates could affect RBC’s net interest margins, loan demand, credit quality and valuation. 3 Canadian Bank Stocks Facing a Bank of Canada Rate Reset
• Negative Sentiment: Weakness in the broader TSX Composite reflects a risk-off environment that may limit near-term gains in financial stocks, even as RBC-specific analyst sentiment remains favorable. TSX Composite Index Outlook

Wall Street Analyst Weigh In

A number of research firms recently commented on RY. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods assumed coverage on shares of Royal Bank Of Canada in a report on Friday, August 21st. They issued a “market perform” rating for the company. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC’s personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.