Addenda Capital Inc. lifted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,187,990 shares of the financial services provider’s stock after acquiring an additional 21,359 shares during the period. Royal Bank of Canada makes up about 6.1% of Addenda Capital Inc.’s holdings, making the stock its 2nd largest holding. Addenda Capital Inc. owned 0.08% of Royal Bank of Canada worth $97,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Jeppson Wealth Management LLC bought a new position in Royal Bank of Canada in the 3rd quarter valued at $32,000. South State CORP. purchased a new position in shares of Royal Bank of Canada during the third quarter valued at $38,000. TFC Financial Management purchased a new position in shares of Royal Bank of Canada during the third quarter valued at $47,000. Cutler Group LP raised its holdings in shares of Royal Bank of Canada by 160.8% in the third quarter. Cutler Group LP now owns 907 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 2,400 shares in the last quarter. Finally, Advisory Alpha LLC purchased a new stake in Royal Bank of Canada in the third quarter worth about $77,000. Institutional investors and hedge funds own 40.81% of the company’s stock.
Shares of RY traded down $0.32 during trading hours on Tuesday, reaching $84.74. 29,146 shares of the company traded hands, compared to its average volume of 525,292. The business has a fifty day moving average price of $82.77 and a 200-day moving average price of $75.26. 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 $120.66 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.75 and a beta of 0.99. Royal Bank of Canada has a 12-month low of $49.55 and a 12-month high of $86.14.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Tuesday, December 1st. The financial services provider reported $2.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.73. The business had revenue of $11.09 billion during the quarter, compared to analyst estimates 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 revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $2.18 EPS. As a group, research analysts predict that Royal Bank of Canada will post 6.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 24th. Investors of record on Tuesday, January 26th will be issued a dividend of $0.811 per share. The ex-dividend date of this dividend is Monday, January 25th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.81. This represents a $3.24 dividend on an annualized basis and a yield of 3.83%. Royal Bank of Canada’s dividend payout ratio is 54.64%.
Several research firms have recently commented on RY. Scotiabank boosted their price target on shares of Royal Bank of Canada from $122.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, December 3rd. Zacks Investment Research raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Friday, November 20th. CIBC lifted their price objective on shares of Royal Bank of Canada from $127.00 to $128.00 and gave the stock a “neutral” rating in a research report on Thursday, December 3rd. Barclays boosted their price objective on shares of 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. Finally, Veritas Investment Research upgraded shares of Royal Bank of Canada from a “sell” rating to a “buy” rating in a research note on Thursday, October 29th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Royal Bank of Canada has a consensus rating of “Buy” and a consensus target price of $104.68.
About Royal Bank of Canada
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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