World Investment Advisors Boosts Stock Position in Royal Bank Of Canada $RY

World Investment Advisors grew its holdings in Royal Bank Of Canada (NYSE:RYFree Report) (TSE:RY) by 49.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,506 shares of the financial services provider’s stock after buying an additional 3,489 shares during the quarter. World Investment Advisors’ holdings in Royal Bank Of Canada were worth $1,791,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of RY. Vanguard Group Inc. increased its holdings in Royal Bank Of Canada by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock valued at $11,529,165,000 after buying an additional 1,290,142 shares in the last quarter. Canerector Inc. increased its holdings in Royal Bank Of Canada by 20,412.0% in the third quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock valued at $1,964,188,000 after buying an additional 13,267,800 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Royal Bank Of Canada by 3.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,147,980 shares of the financial services provider’s stock valued at $1,642,712,000 after buying an additional 338,575 shares in the last quarter. Legal & General Group Plc increased its holdings in Royal Bank Of Canada by 3.6% in the third quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock valued at $1,219,924,000 after buying an additional 287,504 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Royal Bank Of Canada by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider’s stock valued at $1,074,879,000 after buying an additional 740,276 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Down 0.2%

Shares of Royal Bank Of Canada stock opened at $183.37 on Friday. Royal Bank Of Canada has a twelve month low of $124.19 and a twelve month high of $183.87. The stock has a market cap of $256.30 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.38 and a beta of 0.80. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average price of $170.36 and a 200 day moving average price of $165.55.

Royal Bank Of Canada (NYSE:RYGet Free Report) (TSE:RY) last announced its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.13. The company had revenue of $13.18 billion during the quarter, compared to the consensus estimate of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The company’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $3.62 earnings per share. Equities research analysts forecast that Royal Bank Of Canada will post 11.57 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be issued a $1.64 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 3.6%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 45.17%.

Analysts Set New Price Targets

A number of research analysts have issued reports on RY shares. Zacks Research cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, May 4th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Finally, Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Read Our Latest Stock Report on Royal Bank Of Canada

Royal Bank Of Canada Company Profile

(Free Report)

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.

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

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