Royal Bank Of Canada $RY Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,835,008 shares of the financial services provider’s stock after buying an additional 136,386 shares during the period. Royal Bank Of Canada makes up approximately 4.5% of CIBC Asset Management Inc’s investment portfolio, making the stock its biggest holding. CIBC Asset Management Inc owned 0.78% of Royal Bank Of Canada worth $1,852,518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tradewinds Capital Management LLC acquired a new stake in shares of Royal Bank Of Canada during the fourth quarter worth about $26,000. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada during the third quarter worth about $27,000. Highline Wealth Partners LLC lifted its holdings in shares of Royal Bank Of Canada by 75.4% during the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 89 shares during the period. Cornerstone Planning Group LLC lifted its holdings in shares of Royal Bank Of Canada by 55.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 88 shares during the period. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Royal Bank Of Canada during the fourth quarter worth about $43,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 1.4%

Shares of Royal Bank Of Canada stock opened at $191.18 on Wednesday. The firm has a 50-day simple moving average of $175.83 and a two-hundred day simple moving average of $168.90. The company has a market cap of $267.21 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 1.48 and a beta of 0.81. Royal Bank Of Canada has a fifty-two week low of $126.02 and a fifty-two week high of $191.51. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70.

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

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be paid a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio is currently 42.41%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RY shares. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada 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.