Equitable Holdings Inc. Takes Position in Royal Bank Of Canada $RY

Equitable Holdings Inc. purchased a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,692 shares of the financial services provider’s stock, valued at approximately $2,213,000.

Several other hedge funds have also recently modified their holdings of the stock. HighTower Advisors LLC increased its stake in Royal Bank Of Canada by 18.5% in the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock valued at $16,407,000 after purchasing an additional 15,046 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Royal Bank Of Canada during the second quarter worth $2,296,717,000. Fisher Asset Management LLC boosted its position in shares of Royal Bank Of Canada by 6.1% during the fourth quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after purchasing an additional 368,534 shares in the last quarter. Rathbones Group PLC grew its holdings in shares of Royal Bank Of Canada by 9.0% in the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock valued at $55,480,000 after buying an additional 26,782 shares during the period. Finally, Indivisible Partners bought a new stake in shares of Royal Bank Of Canada in the 4th quarter valued at $7,335,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $204.49 on Friday. The firm has a market cap of $283.55 billion, a PE ratio of 17.89, a PEG ratio of 1.54 and a beta of 0.80. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 1-year low of $143.13 and a 1-year high of $218.57. The company has a fifty day moving average price of $209.04 and a 200 day moving average price of $187.92.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.18. The firm had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.94% and a net margin of 16.17%. Research analysts predict that Royal Bank Of Canada will post 11.59 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be issued a dividend of $1.76 per share. The ex-dividend date is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 44.56%.

Key Headlines Impacting Royal Bank Of Canada

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Record quarterly results beat expectations. RBC reported third-quarter net income of C$6.02 billion, or C$4.23 per share, up from C$5.41 billion and C$3.75 per share a year earlier. On the U.S. reporting measure cited by analysts, earnings were $3.07 per share versus the $2.89 consensus, while revenue of $13.22 billion exceeded the $12.98 billion estimate. Royal Bank of Canada Notches Record Income
• Positive Sentiment: Capital markets and commercial banking led the performance. Management said RBC continues to raise the bar, and coverage highlighted strength in these businesses as key drivers of the earnings beat. The results also exceeded expectations alongside strong reports from several Canadian peers, reinforcing confidence in the domestic banking sector. RBC tops expectations on strength in capital markets, commercial banking
• Positive Sentiment: The dividend remains a source of shareholder support. RBC declared a quarterly dividend of C$1.76 per share, equivalent to an indicated yield of approximately 3.4% based on the cited market data. Royal Bank of Canada dividend announcement
• Neutral Sentiment: Analyst commentary is constructive but valuation is a consideration. Post-earnings coverage views the results as supportive of the investment case, but RBC trades at a relatively full valuation, with a P/E ratio near 18 and shares close to their 52-week high. That may limit the immediate reaction unless earnings growth continues. Is Royal Bank a Good Stock to Buy After Its Q3 Earnings?
• Neutral Sentiment: Oil-market uncertainty is a broader macro risk. RBC Capital Markets strategists see additional hurdles for oil prices despite increased Gulf supply. This is not a direct RBC corporate development, but prolonged energy-market volatility could affect Canadian economic conditions, capital-markets activity and credit demand. Wall Street divisions over oil prices
• Negative Sentiment: A wrongful-dismissal ruling creates a reputational and legal overhang. Commentary says RBC paid a high price in a case involving a former financial adviser, potentially drawing attention to its employment-investigation practices. The item does not indicate a material earnings impact, but it could weigh modestly on sentiment. RBC pays high price for wrongful dismissal of financial adviser

Wall Street Analyst Weigh In

Several analysts recently commented on RY shares. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Finally, Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Royal Bank Of Canada has a consensus rating of “Moderate Buy” and an average price target of $225.00.

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.