Erste Asset Management GmbH Has $25.50 Million Holdings in Royal Bank Of Canada $RY

Erste Asset Management GmbH grew its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 32.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,654 shares of the financial services provider’s stock after purchasing an additional 36,280 shares during the period. Erste Asset Management GmbH’s holdings in Royal Bank Of Canada were worth $25,499,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Florida Trust Wealth Management Co increased its holdings in Royal Bank Of Canada by 2.8% during the fourth quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock worth $373,000 after buying an additional 60 shares during the last quarter. Fiduciary Financial Group LLC increased its holdings in Royal Bank Of Canada by 3.4% during the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock worth $320,000 after buying an additional 61 shares during the last quarter. Alta Capital Management LLC increased its holdings in Royal Bank Of Canada by 4.0% during the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock worth $287,000 after buying an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Royal Bank Of Canada by 1.6% during the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock worth $713,000 after buying an additional 74 shares during the last quarter. Finally, Burney Co. increased its holdings in Royal Bank Of Canada by 1.7% during the fourth quarter. Burney Co. now owns 4,425 shares of the financial services provider’s stock worth $754,000 after buying an additional 76 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RY shares. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Finally, Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Price Performance

NYSE:RY opened at $194.25 on Monday. Royal Bank Of Canada has a one year low of $126.02 and a one year high of $195.53. The company has a market cap of $269.96 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.53 and a beta of 0.81. The firm’s fifty day moving average price is $178.35 and its two-hundred day moving average price is $170.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The firm had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same period in the previous year, the company earned $3.12 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts expect that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a $1.76 dividend. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is presently 42.41%.

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.