American Century Companies Inc. Has $51.88 Million Holdings in Royal Bank Of Canada $RY

American Century Companies Inc. boosted its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 29.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 351,963 shares of the financial services provider’s stock after purchasing an additional 79,861 shares during the quarter. American Century Companies Inc.’s holdings in Royal Bank Of Canada were worth $51,875,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Royal Bank Of Canada by 2.0% in the third quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock worth $9,777,472,000 after purchasing an additional 1,329,637 shares during the last quarter. Norges Bank bought a new stake in Royal Bank Of Canada during the second quarter worth $2,599,262,000. Geode Capital Management LLC grew its holdings in 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 worth $1,517,123,000 after buying an additional 1,910,492 shares in the last quarter. Scotia Capital Inc. raised its position in Royal Bank Of Canada by 1.6% in the 2nd quarter. Scotia Capital Inc. now owns 9,065,967 shares of the financial services provider’s stock valued at $1,191,770,000 after buying an additional 141,761 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Royal Bank Of Canada by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider’s stock valued at $1,074,879,000 after acquiring an additional 740,276 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RY shares. Raymond James Financial reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, February 13th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Wednesday, December 17th. TD Cowen upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Finally, Zacks Research lowered Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Trading Down 0.9%

Shares of RY stock opened at $164.38 on Friday. The stock has a market capitalization of $229.75 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.25 and a beta of 0.79. The company’s fifty day simple moving average is $169.66 and its two-hundred day simple moving average is $156.63. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $176.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.83 and a quick ratio of 0.83.

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

Royal Bank Of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 4.0%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 45.93%.

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.