Intech Investment Management LLC Boosts Stock Position in Royal Bank Of Canada $RY

Intech Investment Management LLC grew its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 25.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 204,517 shares of the financial services provider’s stock after acquiring an additional 41,463 shares during the period. Intech Investment Management LLC’s holdings in Royal Bank Of Canada were worth $30,150,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Royal Bank Of Canada by 2.0% in the third quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock valued at $9,777,472,000 after acquiring an additional 1,329,637 shares in the last quarter. Norges Bank acquired a new position in Royal Bank Of Canada during the 2nd quarter worth $2,599,262,000. Geode Capital Management LLC increased its position in shares of Royal Bank Of Canada by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock worth $1,517,123,000 after purchasing an additional 1,910,492 shares during the last quarter. Scotia Capital Inc. increased its position in shares of Royal Bank Of Canada by 1.6% in the 2nd quarter. Scotia Capital Inc. now owns 9,065,967 shares of the financial services provider’s stock worth $1,191,770,000 after purchasing an additional 141,761 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Royal Bank Of Canada by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider’s stock valued at $1,074,879,000 after purchasing an additional 740,276 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 1.6%

NYSE:RY opened at $173.37 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average of $170.01 and a 200-day moving average of $155.45. The firm has a market capitalization of $242.32 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 1.27 and a beta of 0.79. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $176.19.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. The business had revenue of $12.27 billion during the quarter, compared to analyst estimates of $12.12 billion. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.07 EPS. Analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Monday, January 26th were given a dividend of $1.64 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Monday, January 26th. Royal Bank Of Canada’s payout ratio is currently 47.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. National Bank Financial reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, December 4th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Wall Street Zen upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Raymond James Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. Finally, TD Securities raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Royal Bank Of Canada Company 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.