Value Partners Investments Inc. Raises Position in Royal Bank Of Canada $RY

by · The Cerbat Gem

Value Partners Investments Inc. increased its holdings in shares of Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 330,641 shares of the financial services provider’s stock after buying an additional 3,417 shares during the quarter. Royal Bank Of Canada accounts for about 4.0% of Value Partners Investments Inc.’s holdings, making the stock its 10th biggest holding. Value Partners Investments Inc.’s holdings in Royal Bank Of Canada were worth $48,719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Toth Financial Advisory Corp bought a new position in shares of Royal Bank Of Canada in the third quarter worth about $29,000. Roxbury Financial LLC lifted its stake in Royal Bank Of Canada by 44.3% in the 2nd quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 104 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Royal Bank Of Canada by 86.5% in the second quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock valued at $50,000 after buying an additional 180 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Royal Bank Of Canada during the second quarter worth $51,000. Finally, Financial Management Professionals Inc. increased its holdings in shares of Royal Bank Of Canada by 29.2% during the second quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock worth $57,000 after buying an additional 98 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RY. TD Securities raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Wednesday, October 8th. CIBC cut Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a report on Friday, September 5th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, December 4th. Finally, Cowen raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Check Out Our Latest Research Report on RY

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $170.98 on Wednesday. The stock’s 50 day moving average is $153.36 and its 200 day moving average is $142.82. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $171.19. The firm has a market cap of $239.48 billion, a P/E ratio of 17.05, a P/E/G ratio of 1.23 and a beta of 0.80. 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 (NYSE:RY – Get Free Report) (TSE:RY) last released its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The firm had revenue of $12.27 billion during the quarter, compared to analyst estimates of $12.12 billion. During the same quarter last year, the business earned $3.07 EPS. The company’s revenue was up 14.2% compared to the same quarter last year. As a group, research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.8%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date of this dividend is Monday, January 26th. Royal Bank Of Canada’s payout ratio is currently 44.07%.

Royal Bank Of Canada Company Profile

(Free Report)

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.

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