Aviva PLC Grows Position in Royal Bank Of Canada $RY

Aviva PLC raised its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,181,782 shares of the financial services provider’s stock after purchasing an additional 61,584 shares during the quarter. Aviva PLC’s holdings in Royal Bank Of Canada were worth $201,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Royal Bank Of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock valued at $11,529,165,000 after purchasing an additional 1,290,142 shares during the last quarter. Norges Bank purchased a new stake in Royal Bank Of Canada during the fourth quarter valued at about $3,472,382,000. Geode Capital Management LLC lifted its holdings in Royal Bank Of Canada by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock valued at $2,389,773,000 after purchasing an additional 882,253 shares during the last quarter. Canerector Inc. lifted its holdings in Royal Bank Of Canada by 20,412.0% during the 3rd quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock worth $1,964,188,000 after purchasing an additional 13,267,800 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Royal Bank Of Canada by 3.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,147,980 shares of the financial services provider’s stock worth $1,642,712,000 after purchasing an additional 338,575 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RY shares. Argus set a $225.00 price objective on Royal Bank Of Canada in a report on Thursday. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Finally, Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Royal Bank Of Canada has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Trading Up 0.8%

Shares of Royal Bank Of Canada stock opened at $199.16 on Friday. Royal Bank Of Canada has a 12-month low of $126.02 and a 12-month high of $200.05. The company has a market cap of $276.79 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.56 and a beta of 0.81. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $181.40 and its 200-day moving average price is $171.56.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The firm had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same period in the prior year, the firm posted $3.12 earnings per share. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities analysts expect that Royal Bank Of Canada will post 11.52 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a $1.76 dividend. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is 42.41%.

About Royal Bank Of Canada

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.