Royal Bank Of Canada $RY Stock Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 17.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 738,824 shares of the financial services provider’s stock after purchasing an additional 111,255 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Royal Bank Of Canada were worth $145,678,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Roxbury Financial LLC boosted its holdings in shares of Royal Bank Of Canada by 12.8% during the third quarter. Roxbury Financial LLC now owns 501 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 57 shares during the period. Echo45 Advisors LLC grew its position in shares of Royal Bank Of Canada by 5.0% in the third quarter. Echo45 Advisors LLC now owns 1,308 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 62 shares during the last quarter. Apella Capital LLC increased its stake in shares of Royal Bank Of Canada by 3.1% during the second quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 64 shares during the period. Schmidt P J Investment Management Inc. increased its stake in shares of Royal Bank Of Canada by 5.5% during the third quarter. Schmidt P J Investment Management Inc. now owns 1,256 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 65 shares during the period. Finally, Cornerstone Financial Management LLC increased its stake in shares of Royal Bank Of Canada by 45.2% during the second quarter. Cornerstone Financial Management LLC now owns 212 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 66 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

Shares of RY opened at $201.06 on Monday. Royal Bank Of Canada has a 12-month low of $143.38 and a 12-month high of $218.57. The business has a 50-day simple moving average of $201.46 and a two-hundred day simple moving average of $190.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The stock has a market cap of $278.27 billion, a PE ratio of 17.59, a PEG ratio of 1.67 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. The firm had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.98 billion. Analysts anticipate that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be paid a C$1.76 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio is currently 43.22%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. Keefe, Bruyette & Woods started coverage on Royal Bank Of Canada in a report on Friday, August 21st. They issued a “market perform” rating on the stock. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. Weiss Ratings reiterated a “buy (a-)” rating on shares of Royal Bank Of Canada in a research report on Tuesday, October 27th. Finally, TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Profile

Royal Bank of Canada (RBC) is a diversified financial services company founded in 1864 and headquartered in Toronto, Ontario. It provides personal and commercial banking, wealth management, insurance, investor and treasury services, and capital markets services to individuals, businesses, institutions, and governments.

In Canada, RBC offers banking products such as deposit accounts, loans, mortgages, credit cards, and financial advice. Its wealth management and insurance businesses provide investment, advisory, and protection services, while its capital markets operations serve corporate and institutional clients.

RBC serves customers primarily in Canada and the United States, with additional operations and clients in international markets.