Vontobel Holding Ltd. Raises Holdings in Royal Bank Of Canada $RY

Vontobel Holding Ltd. raised its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 24.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 447,501 shares of the financial services provider’s stock after purchasing an additional 88,806 shares during the period. Vontobel Holding Ltd.’s holdings in Royal Bank Of Canada were worth $76,291,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RY. Norges Bank purchased a new stake in Royal Bank Of Canada during the 4th quarter valued at $3,472,382,000. Canerector Inc. boosted its stake in Royal Bank Of Canada by 20,412.0% during the 3rd quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock valued at $1,964,188,000 after purchasing an additional 13,267,800 shares during the last quarter. Quadrature Capital Ltd boosted its stake in Royal Bank Of Canada by 603.1% during the 3rd quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider’s stock valued at $257,183,000 after purchasing an additional 1,498,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in Royal Bank Of Canada by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock valued at $9,777,472,000 after purchasing an additional 1,329,637 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Royal Bank Of Canada by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock valued at $2,389,773,000 after purchasing an additional 882,253 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Argus set a $225.00 price target on Royal Bank Of Canada in a report on Thursday. Finally, TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Price Performance

NYSE RY opened at $199.58 on Friday. The business’s fifty day moving average price is $182.12 and its 200-day moving average price is $171.76. The stock has a market capitalization of $277.37 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.57 and a beta of 0.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. Royal Bank Of Canada has a 1-year low of $126.02 and a 1-year high of $201.74.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.12 EPS. On average, equities analysts predict that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a yield of 3.5%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.

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.