Canerector Inc. Buys 13,267,800 Shares of Royal Bank Of Canada $RY

Canerector Inc. increased its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 20,412.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,332,800 shares of the financial services provider’s stock after acquiring an additional 13,267,800 shares during the quarter. Royal Bank Of Canada makes up about 3.8% of Canerector Inc.’s portfolio, making the stock its 5th largest position. Canerector Inc. owned approximately 0.95% of Royal Bank Of Canada worth $1,964,188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Royal Bank Of Canada by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock valued at $9,777,472,000 after buying an additional 1,329,637 shares during the period. Norges Bank bought a new position in Royal Bank Of Canada in the second quarter worth approximately $2,599,262,000. Geode Capital Management LLC grew its stake in Royal Bank Of Canada by 20.2% in 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 acquiring an additional 1,910,492 shares during the period. Scotia Capital Inc. increased its holdings in shares of Royal Bank Of Canada by 1.6% during the second quarter. Scotia Capital Inc. now owns 9,065,967 shares of the financial services provider’s stock valued at $1,191,770,000 after acquiring an additional 141,761 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Royal Bank Of Canada by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider’s stock worth $1,074,879,000 after purchasing an additional 740,276 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Tuesday, November 25th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. TD Cowen upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Finally, National Bank Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, December 4th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Royal Bank Of Canada has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Stock Performance

RY stock opened at $165.85 on Wednesday. The firm has a market cap of $231.81 billion, a PE ratio of 15.87, a P/E/G ratio of 1.27 and a beta of 0.79. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average of $169.91 and a 200-day moving average of $156.51. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $176.19.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The business had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. During the same period last year, the company posted $3.62 earnings per share. Royal Bank Of Canada’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s payout ratio is presently 45.74%.

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.