Royal Bank Of Canada $RY is Beutel Goodman & Co Ltd.’s 2nd Largest Position

Beutel Goodman & Co Ltd. reduced its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,577,072 shares of the financial services provider’s stock after selling 228,118 shares during the period. Royal Bank Of Canada accounts for about 4.9% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 2nd largest position. Beutel Goodman & Co Ltd. owned about 0.47% of Royal Bank Of Canada worth $865,069,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Baird Financial Group Inc. increased its stake in shares of 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 acquiring an additional 3,811 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Royal Bank Of Canada by 46.6% in the second quarter. EverSource Wealth Advisors LLC now owns 4,762 shares of the financial services provider’s stock worth $627,000 after acquiring an additional 1,513 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Royal Bank Of Canada in the second quarter valued at approximately $51,000. Groupe la Francaise increased its holdings in shares of Royal Bank Of Canada by 259.1% during the 2nd quarter. Groupe la Francaise now owns 4,234 shares of the financial services provider’s stock worth $556,000 after buying an additional 3,055 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Royal Bank Of Canada in the 2nd quarter worth $9,207,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RY shares. Raymond James Financial began coverage on Royal Bank Of Canada in a report on Monday, November 24th. They set a “moderate buy” rating for the company. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday. Natl Bk Canada upgraded shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday. Erste Group Bank upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Monday, September 22nd. Finally, Argus upped their price target on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the company a “buy” rating in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Royal Bank Of Canada Price Performance

NYSE RY opened at $160.53 on Friday. The company has a 50-day moving average price of $148.06 and a two-hundred day moving average price of $139.07. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $161.54. The stock has a market cap of $224.84 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.18 and a beta of 0.80. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 17.00% and a net margin of 14.83%.The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $12.12 billion. During the same period in the previous year, the firm posted $3.07 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. Analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be given a dividend of $1.64 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date is Monday, January 26th. This represents a $6.56 dividend on an annualized basis and a yield of 4.1%. Royal Bank Of Canada’s payout ratio is presently 46.67%.

About Royal Bank Of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.