Royal Bank Of Canada $RY Stock Position Increased by Candriam S.C.A.

Candriam S.C.A. raised its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 16.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,952 shares of the financial services provider’s stock after purchasing an additional 4,604 shares during the period. Candriam S.C.A.’s holdings in Royal Bank Of Canada were worth $4,858,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Royal Bank Of Canada during the second quarter worth approximately $2,599,262,000. Fisher Asset Management LLC raised its stake in Royal Bank Of Canada by 1,218.0% during the 2nd quarter. Fisher Asset Management LLC now owns 5,723,581 shares of the financial services provider’s stock valued at $752,937,000 after acquiring an additional 5,289,330 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in Royal Bank Of Canada during the 2nd quarter worth $329,983,000. Vanguard Group Inc. grew its stake in shares of Royal Bank Of Canada by 3.9% in the second quarter. Vanguard Group Inc. now owns 65,008,684 shares of the financial services provider’s stock worth $8,567,752,000 after purchasing an additional 2,437,164 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Royal Bank Of Canada by 20.2% during the second quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock valued at $1,517,123,000 after purchasing an additional 1,910,492 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Down 1.4%

Shares of Royal Bank Of Canada stock opened at $172.94 on Thursday. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $176.19. The firm has a market capitalization of $241.68 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.24 and a beta of 0.79. 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’s fifty day moving average is $168.81 and its 200-day moving average is $152.65.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results 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. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The firm had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $12.12 billion. During the same quarter last year, the business posted $3.07 EPS. Royal Bank Of Canada’s revenue was up 14.2% on a year-over-year basis. Equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be given a $1.64 dividend. 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 annualized dividend and a dividend yield of 3.8%. Royal Bank Of Canada’s payout ratio is currently 47.66%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RY. TD Securities upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Wall Street Zen upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Raymond James Financial began coverage on Royal Bank Of Canada in a report on Monday, November 24th. They set a “moderate buy” rating on the stock. Jefferies Financial Group downgraded Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, TD Cowen upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.