Vontobel Holding Ltd. Increases Stock Holdings in Royal Bank Of Canada $RY

by · The Markets Daily

Vontobel Holding Ltd. raised its position in Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 289.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 358,695 shares of the financial services provider’s stock after acquiring an additional 266,636 shares during the quarter. Vontobel Holding Ltd.’s holdings in Royal Bank Of Canada were worth $52,856,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in shares of Royal Bank Of Canada by 1.3% in the third quarter. Farther Finance Advisors LLC now owns 9,773 shares of the financial services provider’s stock valued at $1,440,000 after purchasing an additional 129 shares during the period. Rockwood Wealth Management LLC acquired a new stake in Royal Bank Of Canada during the 3rd quarter worth approximately $221,000. KMG Fiduciary Partners LLC boosted its position in Royal Bank Of Canada by 0.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 20,232 shares of the financial services provider’s stock valued at $2,981,000 after buying an additional 109 shares during the period. Toth Financial Advisory Corp purchased a new stake in shares of Royal Bank Of Canada during the third quarter worth $29,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Royal Bank Of Canada during the third quarter worth $225,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 0.7%

Shares of NYSE RY opened at $170.98 on Wednesday. The business has a 50-day moving average price of $153.36 and a 200 day moving average price of $142.82. The stock has a market cap of $239.48 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.23 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $171.19.

Royal Bank Of Canada (NYSE:RY – Get Free Report) (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 analysts’ consensus estimates of $2.51 by $0.25. The company had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $12.12 billion. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.07 earnings per share. Equities research analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be paid a dividend of $1.64 per share. The ex-dividend date is Monday, January 26th. 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. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 44.07%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Securities raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Monday, November 24th. UBS Group restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Tuesday, November 25th. CIBC downgraded shares of Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research note on Friday, September 5th. Finally, Cibc World Mkts downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average target price of $162.00.

Read Our Latest Analysis on RY

Royal Bank Of Canada 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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