Investment Management Corp of Ontario Buys 120,648 Shares of Royal Bank Of Canada $RY

Investment Management Corp of Ontario grew its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 84.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 263,963 shares of the financial services provider’s stock after acquiring an additional 120,648 shares during the period. Royal Bank Of Canada comprises 0.6% of Investment Management Corp of Ontario’s investment portfolio, making the stock its 22nd biggest position. Investment Management Corp of Ontario’s holdings in Royal Bank Of Canada were worth $45,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. HighTower Advisors LLC boosted its holdings in Royal Bank Of Canada by 18.5% in the 4th quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after buying an additional 15,046 shares during the period. Rathbones Group PLC boosted its holdings in 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 worth $55,480,000 after buying an additional 26,782 shares during the period. Fisher Asset Management LLC boosted its holdings in Royal Bank Of Canada by 6.1% in the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after buying an additional 368,534 shares during the period. Legal & General Group Plc boosted its holdings in Royal Bank Of Canada by 3.6% in the 3rd quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock worth $1,219,924,000 after buying an additional 287,504 shares during the period. Finally, APG Asset Management N.V. boosted its holdings in Royal Bank Of Canada by 0.8% in the 3rd quarter. APG Asset Management N.V. now owns 919,463 shares of the financial services provider’s stock worth $135,455,000 after buying an additional 7,400 shares during the period. 45.31% of the stock is owned by institutional investors.

Key Headlines Impacting Royal Bank Of Canada

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

• Positive Sentiment: RBC CEO Dave McKay said artificial intelligence is creating “insatiable” demand for capital, and that Royal Bank of Canada has enough balance-sheet capacity to meet lending needs tied to the AI buildout.
• Positive Sentiment: McKay also said he expects pipeline-related announcements in the coming weeks, which could support loan growth and activity in RBC’s Canadian energy exposure.
• Positive Sentiment: RBC highlighted stronger growth prospects in one Canadian province, suggesting a more favorable macro backdrop in parts of the bank’s home market.
• Neutral Sentiment: RBC launched a partnership with Live Nation Canada allowing Avion members to redeem points for Ticketmaster purchases, a customer-engagement move that is unlikely to materially affect near-term earnings.
• Neutral Sentiment: Separate RBC Capital research notes on Kinetik Holdings, Campbell’s, Black Stone Minerals, and Micron mainly reflect the firm’s broader analyst activity rather than a direct catalyst for Royal Bank of Canada stock.
• Negative Sentiment: There were no major company-specific negatives in the latest headlines, though broader market reaction could be tempered if investors view the recent optimism as already priced in.

Royal Bank Of Canada Stock Down 0.2%

Shares of NYSE:RY opened at $200.77 on Thursday. The firm has a fifty day moving average price of $184.31 and a two-hundred day moving average price of $172.91. 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 one year low of $126.02 and a one year high of $202.90. The company has a market cap of $279.02 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.58 and a beta of 0.81.

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

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a $1.76 dividend. This represents a $7.04 annualized dividend and a yield of 3.5%. 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 payout ratio is 42.41%.

Wall Street Analyst Weigh In

RY has been the subject of several analyst reports. 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 report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Finally, TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

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.