Royal Bank Of Canada $RY Stock Position Raised by Cidel Asset Management Inc.

Cidel Asset Management Inc. raised its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 88.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 553,471 shares of the financial services provider’s stock after purchasing an additional 260,118 shares during the period. Royal Bank Of Canada comprises approximately 4.9% of Cidel Asset Management Inc.’s holdings, making the stock its largest holding. Cidel Asset Management Inc.’s holdings in Royal Bank Of Canada were worth $89,190,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Harvest Fund Management Co. Ltd bought a new stake in shares of Royal Bank Of Canada in the fourth quarter worth $25,000. Tradewinds Capital Management LLC bought a new position in Royal Bank Of Canada during the 4th quarter valued at $26,000. Johnson Financial Group Inc. acquired a new position in Royal Bank Of Canada during the 3rd quarter worth $27,000. Highline Wealth Partners LLC increased its position in shares of Royal Bank Of Canada by 75.4% in the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its position in shares of Royal Bank Of Canada by 55.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 88 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $202.73 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a fifty-two week low of $127.38 and a fifty-two week high of $203.29. The firm has a 50-day simple moving average of $186.93 and a 200 day simple moving average of $174.25. The company has a market cap of $281.74 billion, a PE ratio of 18.21, a P/E/G ratio of 1.60 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.Royal Bank Of Canada’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.12 earnings per share. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 11.52 EPS 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. Investors of record on Monday, July 27th will be given a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is presently 42.41%.

Wall Street Analysts Forecast Growth

RY has been the topic of several research analyst reports. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Finally, Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Company Profile

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.