Sienna Gestion Increases Position in Royal Bank Of Canada $RY

Sienna Gestion lifted its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2,568.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 14,545 shares of the financial services provider’s stock after buying an additional 14,000 shares during the period. Sienna Gestion’s holdings in Royal Bank Of Canada were worth $2,486,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RY. Vanguard Group Inc. raised its stake in Royal Bank Of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock worth $11,529,165,000 after purchasing an additional 1,290,142 shares during the period. Norges Bank purchased a new position in Royal Bank Of Canada during the fourth quarter worth approximately $3,472,382,000. Bank of Nova Scotia raised its stake in Royal Bank Of Canada by 1.6% during the fourth quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock worth $2,596,904,000 after purchasing an additional 238,589 shares during the period. Geode Capital Management LLC raised its stake in Royal Bank Of Canada by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock worth $2,389,773,000 after purchasing an additional 882,253 shares during the period. Finally, Canerector Inc. raised its stake in Royal Bank Of Canada by 20,412.0% during the third quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock worth $1,964,188,000 after purchasing an additional 13,267,800 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a research note on Thursday. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $198.93 on Tuesday. Royal Bank Of Canada has a 52-week low of $126.02 and a 52-week high of $201.74. The firm has a fifty day moving average of $182.83 and a 200-day moving average of $172.24. The firm has a market capitalization of $276.46 billion, a P/E ratio of 17.87, a PEG ratio of 1.57 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping 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 company had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same quarter in the prior year, the business earned $3.12 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, analysts predict that Royal Bank Of Canada will post 11.52 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a $1.76 dividend. The ex-dividend date of this dividend is Monday, July 27th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 42.41%.

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.