Connor Clark & Lunn Investment Management Ltd. Has $1.64 Billion Holdings in Royal Bank Of Canada $RY

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,147,980 shares of the financial services provider’s stock after acquiring an additional 338,575 shares during the period. Royal Bank Of Canada comprises approximately 5.2% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its largest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Royal Bank Of Canada were worth $1,642,712,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 575 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Royal Bank Of Canada by 60.9% in the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after buying an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Royal Bank Of Canada by 57.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after buying an additional 1,934 shares during the last quarter. Savant Capital LLC boosted its holdings in shares of Royal Bank Of Canada by 37.8% in the 2nd quarter. Savant Capital LLC now owns 11,590 shares of the financial services provider’s stock valued at $1,525,000 after buying an additional 3,179 shares during the period. Finally, Fox Run Management L.L.C. grew its position in shares of Royal Bank Of Canada by 58.2% during the 2nd quarter. Fox Run Management L.L.C. now owns 3,158 shares of the financial services provider’s stock valued at $415,000 after buying an additional 1,162 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Down 0.2%

Royal Bank Of Canada stock opened at $165.07 on Thursday. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $176.19. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $230.72 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.25 and a beta of 0.79. The firm has a 50-day moving average price of $169.11 and a two-hundred day moving average price of $157.55.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.81 by $0.13. The company had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. Royal Bank Of Canada’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.62 earnings per share. Sell-side analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 4.0%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 45.93%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RY shares. UBS Group reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Tuesday, November 25th. Jefferies Financial Group lowered Royal Bank Of Canada from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. TD Securities upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. TD Cowen raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Finally, Zacks Research lowered Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada 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.