Montrusco Bolton Investments Inc. boosted its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 17.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,743,615 shares of the financial services provider’s stock after purchasing an additional 405,183 shares during the period. Royal Bank Of Canada comprises approximately 11.2% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its biggest position. Montrusco Bolton Investments Inc. owned 0.19% of Royal Bank Of Canada worth $211,785,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in Royal Bank Of Canada by 4.0% during the second quarter. Quadrant Capital Group LLC now owns 1,709 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 65 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Royal Bank Of Canada during the first quarter worth $123,000. Proficio Capital Partners LLC lifted its stake in Royal Bank Of Canada by 125.3% during the first quarter. Proficio Capital Partners LLC now owns 2,098 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,167 shares during the last quarter. Jolley Asset Management LLC lifted its stake in Royal Bank Of Canada by 1.0% during the second quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 25 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware bought a new stake in Royal Bank Of Canada during the second quarter worth $191,000. Hedge funds and other institutional investors own 40.76% of the company’s stock.
Several equities research analysts have weighed in on the company. Macquarie assumed coverage on Royal Bank Of Canada in a research note on Tuesday, October 24th. They set an “underperform” rating for the company. Zacks Investment Research cut Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity assumed coverage on Royal Bank Of Canada in a research note on Tuesday, July 18th. They set a “hold” rating for the company. BidaskClub upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Finally, Scotiabank cut 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, nine have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $80.00.
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Shares of Royal Bank Of Canada (NYSE RY) traded up 0.41% on Friday, hitting $78.90. The stock had a trading volume of 678,090 shares. Royal Bank Of Canada has a 1-year low of $60.92 and a 1-year high of $80.98. The firm has a 50-day moving average of $77.69 and a 200 day moving average of $73.33. The company has a market capitalization of $115.03 billion, a PE ratio of 13.10 and a beta of 1.06.
Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.01). Royal Bank Of Canada had a net margin of 22.98% and a return on equity of 16.63%. The business had revenue of $7.43 billion during the quarter, compared to the consensus estimate of $7.11 billion. During the same quarter in the prior year, the firm posted $1.72 EPS. On average, equities analysts anticipate that Royal Bank Of Canada will post $5.85 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, October 26th will be issued a $0.724 dividend. The ex-dividend date is Wednesday, October 25th. This represents a $2.90 annualized dividend and a dividend yield of 3.67%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $0.64. Royal Bank Of Canada’s payout ratio is currently 52.54%.
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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