Royal Bank of Canada (NYSE:RY) Position Increased by Bfsg LLC

Bfsg LLC raised its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,705 shares of the financial services provider’s stock after acquiring an additional 164 shares during the period. Bfsg LLC’s holdings in Royal Bank of Canada were worth $2,930,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RY. CIBC Asset Management Inc raised its stake in Royal Bank of Canada by 9.7% during the 3rd quarter. CIBC Asset Management Inc now owns 15,542,954 shares of the financial services provider’s stock valued at $1,090,407,000 after acquiring an additional 1,371,311 shares in the last quarter. Cardinal Capital Management Inc. raised its stake in Royal Bank of Canada by 19,332.6% during the 3rd quarter. Cardinal Capital Management Inc. now owns 1,329,192 shares of the financial services provider’s stock valued at $93,249,000 after acquiring an additional 1,322,352 shares in the last quarter. Toronto Dominion Bank raised its stake in Royal Bank of Canada by 5.9% during the 3rd quarter. Toronto Dominion Bank now owns 21,479,987 shares of the financial services provider’s stock valued at $1,509,212,000 after acquiring an additional 1,190,621 shares in the last quarter. FMR LLC raised its stake in Royal Bank of Canada by 22.4% during the 2nd quarter. FMR LLC now owns 5,476,492 shares of the financial services provider’s stock valued at $371,567,000 after acquiring an additional 1,002,340 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Royal Bank of Canada by 6.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,600,000 shares of the financial services provider’s stock valued at $1,091,854,000 after acquiring an additional 1,000,000 shares in the last quarter. 40.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE RY opened at $83.46 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $118.69 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 1.75 and a beta of 0.99. The stock’s fifty day simple moving average is $83.24 and its 200 day simple moving average is $76.19. Royal Bank of Canada has a 52-week low of $49.55 and a 52-week high of $86.14.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Tuesday, December 1st. The financial services provider reported $2.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.73. The business had revenue of $11.09 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Royal Bank of Canada had a return on equity of 14.84% and a net margin of 18.78%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.18 EPS. As a group, analysts anticipate that Royal Bank of Canada will post 6.62 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 24th. Stockholders of record on Tuesday, January 26th will be issued a dividend of $0.811 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, January 25th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.89%. Royal Bank of Canada’s payout ratio is currently 54.64%.

Several analysts have weighed in on the company. Zacks Investment Research raised Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Friday, November 20th. Veritas Investment Research raised Royal Bank of Canada from a “sell” rating to a “buy” rating in a research note on Thursday, October 29th. Canaccord Genuity boosted their price objective on Royal Bank of Canada from $107.50 to $113.50 and gave the stock a “hold” rating in a research note on Thursday, December 3rd. CIBC boosted their price objective on Royal Bank of Canada from $127.00 to $128.00 and gave the stock a “neutral” rating in a research note on Thursday, December 3rd. Finally, Barclays boosted their price objective on Royal Bank of Canada from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, November 12th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $104.68.

Royal Bank of Canada Profile

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, 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.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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