Rempart Asset Management Inc. Has $34.27 Million Stock Position in Royal Bank Of Canada $RY

Rempart Asset Management Inc. decreased its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,912 shares of the financial services provider’s stock after selling 15,669 shares during the period. Royal Bank Of Canada accounts for about 6.5% of Rempart Asset Management Inc.’s holdings, making the stock its biggest position. Rempart Asset Management Inc.’s holdings in Royal Bank Of Canada were worth $34,271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Royal Bank Of Canada by 33.1% during the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 575 shares during the period. AQR Capital Management LLC lifted its position in shares of Royal Bank Of Canada by 60.9% during the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after acquiring an additional 4,460 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Royal Bank Of Canada by 57.7% in the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after acquiring an additional 1,934 shares during the period. MAI Capital Management boosted its holdings in shares of Royal Bank Of Canada by 99.1% in the second quarter. MAI Capital Management now owns 1,350 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 672 shares during the period. Finally, AlphaCore Capital LLC purchased a new position in shares of Royal Bank Of Canada in the second quarter valued at $77,000. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Zacks Research lowered Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. TD Securities raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Wednesday, December 17th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Trading Up 0.2%

Shares of RY stock opened at $162.48 on Thursday. The company has a market capitalization of $227.10 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.22 and a beta of 0.79. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $176.19. The business’s fifty day moving average is $167.52 and its 200 day moving average is $158.84. 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 posted its earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.81 by $0.13. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The business had revenue of $13.18 billion during the quarter, compared to analysts’ expectations of $12.60 billion. During the same period in the previous year, the business earned $3.62 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. On average, equities research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be given a $1.64 dividend. 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 is 45.74%.

About Royal Bank Of Canada

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.