Royal Bank Of Canada $RY is QV Investors Inc.’s Largest Position

QV Investors Inc. reduced its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 421,019 shares of the financial services provider’s stock after selling 32,480 shares during the quarter. Royal Bank Of Canada accounts for 5.9% of QV Investors Inc.’s portfolio, making the stock its biggest holding. QV Investors Inc.’s holdings in Royal Bank Of Canada were worth $71,869,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Royal Bank Of Canada by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock worth $9,777,472,000 after buying an additional 1,329,637 shares in the last quarter. Canerector Inc. lifted 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 acquiring an additional 13,267,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Royal Bank Of Canada by 3.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,147,980 shares of the financial services provider’s stock valued at $1,642,712,000 after acquiring an additional 338,575 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Royal Bank Of Canada by 3.6% during the 3rd quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock valued at $1,219,924,000 after acquiring an additional 287,504 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Royal Bank Of Canada by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider’s stock worth $1,074,879,000 after acquiring an additional 740,276 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Price Performance

NYSE RY opened at $163.43 on Friday. The company has a 50-day moving average price of $166.45 and a 200-day moving average price of $159.64. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $176.19. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $228.42 billion, a P/E ratio of 15.64, a PEG ratio of 1.23 and a beta of 0.78.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.13. The company had revenue of $13.18 billion for the quarter, compared to the consensus estimate of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.62 earnings per share. Equities research analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 45.74%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Wednesday, December 17th. Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Raymond James Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, February 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.