Royal Bank Of Canada $RY is Triasima Portfolio Management inc.’s Largest Position

Triasima Portfolio Management inc. grew its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 224,679 shares of the financial services provider’s stock after acquiring an additional 8,120 shares during the quarter. Royal Bank Of Canada comprises 5.0% of Triasima Portfolio Management inc.’s portfolio, making the stock its biggest position. Triasima Portfolio Management inc.’s holdings in Royal Bank Of Canada were worth $33,122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Advisory Resource Group lifted its stake in shares of Royal Bank Of Canada by 0.8% during the third quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider’s stock worth $1,342,000 after purchasing an additional 75 shares in the last quarter. Brucke Financial Inc. increased its stake in shares of Royal Bank Of Canada by 1.9% in the second quarter. Brucke Financial Inc. now owns 4,264 shares of the financial services provider’s stock worth $561,000 after buying an additional 79 shares during the last quarter. Benjamin Edwards Inc. raised its stake in shares of Royal Bank Of Canada by 2.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 3,247 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 81 shares in the last quarter. Choreo LLC lifted its holdings in Royal Bank Of Canada by 4.2% during the 2nd quarter. Choreo LLC now owns 2,088 shares of the financial services provider’s stock worth $275,000 after buying an additional 84 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its stake in 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 purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RY shares. Erste Group Bank raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. TD Securities raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. BMO Capital Markets reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Wednesday, December 17th. Raymond James Financial began coverage on Royal Bank Of Canada in a research note on Monday, November 24th. They issued a “moderate buy” rating on the stock. Finally, Cowen upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Stock Down 0.1%

Shares of Royal Bank Of Canada stock opened at $169.08 on Tuesday. The firm has a market cap of $236.29 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 1.21 and a beta of 0.79. The stock has a 50-day simple moving average of $162.34 and a 200-day simple moving average of $148.34. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $174.61. 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) (TSE:RY) last issued its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.25. The firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $12.12 billion. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.07 earnings per share. On average, equities research analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be issued a $1.64 dividend. This is a boost 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 3.9%. The ex-dividend date is Monday, January 26th. Royal Bank Of Canada’s dividend payout ratio is currently 44.07%.

Royal Bank Of Canada Company 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.