Royal Bank Of Canada (RY) Shares Bought by Jarislowsky Fraser Ltd
Jarislowsky Fraser Ltd boosted its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,449,799 shares of the financial services provider’s stock after purchasing an additional 132,595 shares during the period. Royal Bank Of Canada comprises about 7.6% of Jarislowsky Fraser Ltd’s portfolio, making the stock its 2nd largest holding. Jarislowsky Fraser Ltd owned 1.13% of Royal Bank Of Canada worth $1,269,791,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in RY. Quadrant Capital Group LLC lifted its stake in Royal Bank Of Canada by 4.0% in the second quarter. Quadrant Capital Group LLC now owns 1,709 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 65 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in Royal Bank Of Canada in the second quarter valued at $191,000. Proficio Capital Partners LLC lifted its stake in Royal Bank Of Canada by 1.2% in the second quarter. Proficio Capital Partners LLC now owns 2,124 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 26 shares during the last quarter. Asset Advisors Corp acquired a new stake in Royal Bank Of Canada in the third quarter valued at $178,000. Finally, Jolley Asset Management LLC lifted its stake in Royal Bank Of Canada by 1.0% in the second quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 25 shares during the last quarter. 40.62% of the stock is owned by institutional investors and hedge funds.
RY has been the subject of a number of recent analyst reports. Canaccord Genuity initiated coverage on shares of Royal Bank Of Canada in a research note on Tuesday, July 18th. They issued a “hold” rating for the company. Zacks Investment Research upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Wednesday, July 19th. BidaskClub cut shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Howard Weil cut shares of Royal Bank Of Canada to a “sector perform” rating in a research note on Monday, August 21st. Finally, Scotiabank cut shares of Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Royal Bank Of Canada currently has an average rating of “Hold” and an average target price of $80.00.
Royal Bank Of Canada (NYSE:RY) traded down $0.11 during midday trading on Monday, hitting $78.63. 225,767 shares of the stock were exchanged, compared to its average volume of 753,836. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.14. The firm has a market cap of $115,230.00, a PE ratio of 14.24, a PEG ratio of 2.17 and a beta of 1.08. Royal Bank Of Canada has a one year low of $62.92 and a one year high of $80.98.
Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.01). Royal Bank Of Canada had a return on equity of 16.63% and a net margin of 22.98%. The company had revenue of $7.43 billion for the quarter, compared to analyst estimates of $7.11 billion. During the same quarter in the prior year, the business posted $1.72 EPS. equities analysts anticipate that Royal Bank Of Canada will post 6.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, October 26th will be paid a $0.724 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $0.64. The ex-dividend date is Wednesday, October 25th. This represents a $2.90 annualized dividend and a yield of 3.68%. Royal Bank Of Canada’s payout ratio is 50.26%.
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Royal Bank Of Canada Profile
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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