QV Investors Inc. Has $71.87 Million Position in Royal Bank Of Canada $RY

QV Investors Inc. lowered its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 421,019 shares of the financial services provider’s stock after selling 32,480 shares during the quarter. Royal Bank Of Canada comprises approximately 5.9% of QV Investors Inc.’s portfolio, making the stock its biggest position. QV Investors Inc.’s holdings in Royal Bank Of Canada were worth $71,869,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Fiduciary Financial Group LLC grew its position in shares of Royal Bank Of Canada by 3.4% in the 4th quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock worth $320,000 after buying an additional 61 shares during the period. EverSource Wealth Advisors LLC lifted its position in Royal Bank Of Canada by 1.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock valued at $713,000 after acquiring an additional 74 shares during the period. Advisory Resource Group boosted its stake in Royal Bank Of Canada by 0.8% during the third quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider’s stock worth $1,342,000 after acquiring an additional 75 shares in the last quarter. Ballentine Partners LLC boosted its stake in Royal Bank Of Canada by 1.5% during the third quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock worth $759,000 after acquiring an additional 75 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its holdings in Royal Bank Of Canada by 2.4% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 3,396 shares of the financial services provider’s stock worth $500,000 after purchasing an additional 80 shares during the period. Institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. Zacks Research downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Raymond James Financial reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Wednesday, December 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Stock Up 0.0%

NYSE:RY opened at $163.43 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $228.42 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.23 and a beta of 0.78. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $176.19. The firm has a 50-day simple moving average of $166.45 and a two-hundred day simple moving average of $159.64.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The firm had revenue of $13.18 billion for the quarter, compared to the consensus estimate of $12.60 billion. During the same quarter in the prior year, the firm posted $3.62 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. Analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s payout ratio is presently 45.74%.

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.