Allianz Asset Management GmbH Has $31.27 Million Stock Position in Royal Bank Of Canada $RY

Allianz Asset Management GmbH cut its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 212,091 shares of the financial services provider’s stock after selling 5,034 shares during the period. Allianz Asset Management GmbH’s holdings in Royal Bank Of Canada were worth $31,266,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RY. Advisory Resource Group raised its position in Royal Bank Of Canada by 0.8% in the third quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider’s stock valued at $1,342,000 after purchasing an additional 75 shares during the last quarter. Ballentine Partners LLC raised its holdings in Royal Bank Of Canada by 1.5% in the 3rd quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock valued at $759,000 after buying an additional 75 shares during the last quarter. Brucke Financial Inc. boosted its position in Royal Bank Of Canada by 1.9% during the 2nd quarter. Brucke Financial Inc. now owns 4,264 shares of the financial services provider’s stock worth $561,000 after buying an additional 79 shares during the period. Knights of Columbus Asset Advisors LLC grew its holdings in Royal Bank Of Canada by 2.4% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 3,396 shares of the financial services provider’s stock worth $500,000 after acquiring an additional 80 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in Royal Bank Of Canada by 2.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 3,247 shares of the financial services provider’s stock valued at $478,000 after acquiring an additional 81 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Tuesday, November 25th. National Bankshares reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. TD Securities upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Jefferies Financial Group cut Royal Bank Of Canada from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Monday, November 24th. 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 company’s stock. Based on data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Price Performance

Shares of RY opened at $168.65 on Friday. The firm has a market cap of $235.69 billion, a PE ratio of 16.81, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50 day moving average price is $167.33 and its two-hundred day moving average price is $151.39.

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, beating analysts’ consensus estimates of $2.51 by $0.25. The company had revenue of $12.27 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.07 EPS. On average, equities analysts anticipate that Royal Bank Of Canada will post 9.16 EPS 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. Stockholders of record on Monday, January 26th will be paid a $1.64 dividend. The ex-dividend date is Monday, January 26th. This represents a $6.56 annualized dividend and a dividend yield of 3.9%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio (DPR) is 47.66%.

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.