Royal Bank Of Canada $RY is Cumberland Partners Ltd’s 5th Largest Position

Cumberland Partners Ltd increased its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 7.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 397,710 shares of the financial services provider’s stock after purchasing an additional 26,519 shares during the period. Royal Bank Of Canada accounts for about 3.8% of Cumberland Partners Ltd’s investment portfolio, making the stock its 5th biggest holding. Cumberland Partners Ltd’s holdings in Royal Bank Of Canada were worth $58,603,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 575 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Royal Bank Of Canada by 60.9% in the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock valued at $1,321,000 after purchasing an additional 4,460 shares during the period. Sivia Capital Partners LLC boosted its holdings in 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 valued at $695,000 after purchasing an additional 1,934 shares during the period. Strategic Blueprint LLC grew its stake in Royal Bank Of Canada by 2.3% during the 2nd quarter. Strategic Blueprint LLC now owns 4,738 shares of the financial services provider’s stock worth $623,000 after purchasing an additional 107 shares in the last quarter. Finally, Cardinal Point Capital Management ULC increased its holdings in Royal Bank Of Canada by 73.5% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 203,319 shares of the financial services provider’s stock worth $26,746,000 after purchasing an additional 86,102 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RY shares. Raymond James Financial reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, February 13th. Barclays reiterated an “overweight” rating 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 report on Friday, January 9th. National Bank Financial reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, December 4th. Finally, TD Cowen raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $170.82 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $176.19. The company has a market capitalization of $238.76 billion, a PE ratio of 17.03, a P/E/G ratio of 1.19 and a beta of 0.79. The company has a fifty day moving average of $169.48 and a two-hundred day moving average of $154.06.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The business had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $12.12 billion. During the same quarter in the previous year, the firm earned $3.07 earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. As a group, analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be paid a $1.64 dividend. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, January 26th. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 47.66%.

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.