JCIC Asset Management Inc. Purchases Shares of 83,461 Royal Bank Of Canada $RY

JCIC Asset Management Inc. acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 83,461 shares of the financial services provider’s stock, valued at approximately $12,299,000. Royal Bank Of Canada makes up approximately 3.8% of JCIC Asset Management Inc.’s investment portfolio, making the stock its 8th biggest position.

Other large investors have also modified their holdings of the company. Toth Financial Advisory Corp acquired a new stake in Royal Bank Of Canada during the 3rd quarter worth $29,000. True Wealth Design LLC acquired a new stake in shares of Royal Bank Of Canada during the third quarter worth about $31,000. CoreCap Advisors LLC lifted its holdings in shares of Royal Bank Of Canada by 103.8% in the 3rd quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 138 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Royal Bank Of Canada by 86.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 180 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Royal Bank Of Canada during the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Down 0.1%

NYSE RY opened at $169.14 on Monday. 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 market capitalization of $236.38 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.21 and a beta of 0.79. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $174.61. The firm has a 50-day moving average price of $161.90 and a 200 day moving average price of $148.08.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results 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. The company had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $12.12 billion. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.07 EPS. Equities research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.9%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date of this dividend is Monday, January 26th. Royal Bank Of Canada’s dividend payout ratio is 44.07%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RY shares. TD Securities upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Natl Bk Canada upgraded shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Wednesday, December 17th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Monday, November 24th. Finally, Cowen upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.00.

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.