Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Has $439.83 Million Position in Royal Bank of Canada (RY)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,284,787 shares of the financial services provider’s stock after buying an additional 227,027 shares during the quarter. Royal Bank of Canada comprises approximately 3.9% of Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s investment portfolio, making the stock its 2nd largest holding. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Royal Bank of Canada were worth $439,833,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RY. Private Advisor Group LLC purchased a new stake in Royal Bank of Canada in the 4th quarter worth approximately $203,000. TD Asset Management Inc. boosted its position in Royal Bank of Canada by 1.1% in the 3rd quarter. TD Asset Management Inc. now owns 41,729,683 shares of the financial services provider’s stock worth $3,221,184,000 after purchasing an additional 436,782 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Royal Bank of Canada by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,226,386 shares of the financial services provider’s stock worth $94,860,000 after purchasing an additional 8,747 shares in the last quarter. Guardian Capital LP boosted its position in Royal Bank of Canada by 3.9% in the 3rd quarter. Guardian Capital LP now owns 4,445,146 shares of the financial services provider’s stock worth $343,017,000 after purchasing an additional 167,744 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Royal Bank of Canada by 13.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 530,570 shares of the financial services provider’s stock worth $41,040,000 after purchasing an additional 61,912 shares in the last quarter. Institutional investors own 41.52% of the company’s stock.

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Several research firms have commented on RY. Bank of America upgraded Royal Bank of Canada from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 30th. CIBC lowered Royal Bank of Canada from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 1st. Argus upped their price objective on Royal Bank of Canada to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 5th. They noted that the move was a valuation call. Zacks Investment Research lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, February 16th. Finally, Scotiabank restated a “hold” rating and issued a $101.00 price objective on shares of Royal Bank of Canada in a research report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $98.60.

Royal Bank of Canada (NYSE:RY) opened at $78.08 on Tuesday. Royal Bank of Canada has a 52-week low of $66.66 and a 52-week high of $87.10. The stock has a market capitalization of $112,767.04, a P/E ratio of 13.30, a PEG ratio of 1.39 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 0.89.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Friday, February 23rd. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.15. Royal Bank of Canada had a return on equity of 17.60% and a net margin of 21.64%. The firm had revenue of $10.83 billion for the quarter, compared to analyst estimates of $9.98 billion. During the same quarter last year, the firm posted $1.83 EPS. The business’s revenue was up 12.3% on a year-over-year basis. analysts expect that Royal Bank of Canada will post 6.66 earnings per share for the current fiscal year.

Royal Bank of Canada declared that its Board of Directors has initiated a share repurchase plan on Friday, February 23rd that allows the company to buyback 30,000,000 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 24th. Stockholders of record on Wednesday, April 25th will be given a dividend of $0.74 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, April 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.79%. Royal Bank of Canada’s dividend payout ratio (DPR) is 49.06%.

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About Royal Bank of Canada

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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