Canoe Financial LP Has $151.21 Million Position in Royal Bank Of Canada $RY

Canoe Financial LP lessened its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,026,117 shares of the financial services provider’s stock after selling 13,156 shares during the period. Royal Bank Of Canada comprises approximately 2.2% of Canoe Financial LP’s portfolio, making the stock its 16th biggest position. Canoe Financial LP owned about 0.07% of Royal Bank Of Canada worth $151,207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Canada Pension Plan Investment Board grew its position in Royal Bank Of Canada by 8.2% during the second quarter. Canada Pension Plan Investment Board now owns 6,867,900 shares of the financial services provider’s stock valued at $905,726,000 after purchasing an additional 521,132 shares in the last quarter. Baskin Financial Services Inc. lifted its position in Royal Bank Of Canada by 3.3% in the 2nd quarter. Baskin Financial Services Inc. now owns 64,946 shares of the financial services provider’s stock worth $8,558,000 after buying an additional 2,091 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Royal Bank Of Canada by 37.8% during the 2nd quarter. Savant Capital LLC now owns 11,590 shares of the financial services provider’s stock valued at $1,525,000 after buying an additional 3,179 shares during the period. Vise Technologies Inc. purchased a new position in shares of Royal Bank Of Canada during the 2nd quarter valued at $2,780,000. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of Royal Bank Of Canada in the second quarter worth $2,670,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 0.2%

Shares of Royal Bank Of Canada stock opened at $171.20 on Friday. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $171.84. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $154.36 and a two-hundred day moving average price of $143.21. The stock has a market capitalization of $239.76 billion, a P/E ratio of 17.07, a PEG ratio of 1.23 and a beta of 0.80.

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 for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. The business had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $12.12 billion. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. Royal Bank Of Canada’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.07 earnings per share. Equities analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, January 26th. This represents a $6.56 dividend on an annualized basis and a yield of 3.8%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 44.07%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Cowen raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Wall Street Zen raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research cut Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Cibc World Mkts lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average price target 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.