Candriam S.C.A. lessened its holdings in shares of Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 14.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 201,890 shares of the financial services provider’s stock after selling 35,483 shares during the quarter. Candriam S.C.A.’s holdings in Royal Bank Of Canada were worth $39,954,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Ethic Inc. grew its stake in Royal Bank Of Canada by 24.5% in the third quarter. Ethic Inc. now owns 31,080 shares of the financial services provider’s stock worth $6,110,000 after purchasing an additional 6,111 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Royal Bank Of Canada by 17.7% during the 3rd quarter. Pictet Asset Management Holding SA now owns 738,824 shares of the financial services provider’s stock valued at $145,678,000 after purchasing an additional 111,255 shares in the last quarter. Parallel Advisors LLC raised its position in Royal Bank Of Canada by 1.5% during the 3rd quarter. Parallel Advisors LLC now owns 7,608 shares of the financial services provider’s stock valued at $1,496,000 after purchasing an additional 112 shares in the last quarter. Abacus Wealth Partners LLC lifted its holdings in shares of Royal Bank Of Canada by 4.2% in the 3rd quarter. Abacus Wealth Partners LLC now owns 2,618 shares of the financial services provider’s stock worth $515,000 after buying an additional 106 shares during the period. Finally, Heritage Family Offices LLP purchased a new stake in shares of Royal Bank Of Canada in the 3rd quarter worth $25,000. 45.31% of the stock is owned by hedge funds and other institutional investors.
Royal Bank Of Canada Stock Down 1.3%
Royal Bank Of Canada stock opened at $201.06 on Friday. Royal Bank Of Canada has a 1-year low of $143.38 and a 1-year high of $218.57. The business has a fifty day moving average price of $201.46 and a 200-day moving average price of $190.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $278.27 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.67 and a beta of 0.79.
Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last announced its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. The company had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.98 billion. Equities research analysts forecast that Royal Bank Of Canada will post 11.83 EPS for the current fiscal year.
Royal Bank Of Canada Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be paid a dividend of C$1.76 per share. The ex-dividend date is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. Royal Bank Of Canada’s payout ratio is presently 43.31%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on RY shares. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Royal Bank Of Canada in a report on Friday, August 21st. They set a “market perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.
Read Our Latest Stock Report on RY
Royal Bank Of Canada Company Profile
Royal Bank of Canada (RBC) is a diversified financial services company founded in 1864 and headquartered in Toronto, Ontario. It provides personal and commercial banking, wealth management, insurance, investor and treasury services, and capital markets services to individuals, businesses, institutions, and governments.
In Canada, RBC offers banking products such as deposit accounts, loans, mortgages, credit cards, and financial advice. Its wealth management and insurance businesses provide investment, advisory, and protection services, while its capital markets operations serve corporate and institutional clients.
RBC serves customers primarily in Canada and the United States, with additional operations and clients in international markets.
Featured Stories
- Five stocks we like better than Royal Bank Of Canada
- Dutch Bros Gave Wall Street What It Wanted, So Why Did the Stock Crater?
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY).
Receive News & Ratings for Royal Bank Of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank Of Canada and related companies with MarketBeat.com's FREE daily email newsletter.
