Fisher Asset Management LLC Has $1.09 Billion Stock Position in Royal Bank Of Canada $RY

Fisher Asset Management LLC boosted its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 6.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,373,400 shares of the financial services provider’s stock after buying an additional 368,534 shares during the period. Fisher Asset Management LLC’s holdings in Royal Bank Of Canada were worth $1,086,601,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Florida Trust Wealth Management Co raised its holdings in Royal Bank Of Canada by 2.8% during the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock worth $373,000 after buying an additional 60 shares during the period. Fiduciary Financial Group LLC raised its holdings in Royal Bank Of Canada by 3.4% during the 4th quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock worth $320,000 after buying an additional 61 shares during the period. Alta Capital Management LLC raised its holdings in Royal Bank Of Canada by 4.0% during the 4th quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock worth $287,000 after buying an additional 65 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Royal Bank Of Canada by 1.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock worth $713,000 after buying an additional 74 shares during the period. Finally, Ballentine Partners LLC raised its holdings in Royal Bank Of Canada by 1.5% during the 3rd quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock worth $759,000 after buying an additional 75 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

NYSE RY opened at $189.67 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 12-month low of $124.19 and a 12-month high of $190.36. The company has a market capitalization of $265.11 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.49 and a beta of 0.80. The firm’s 50 day moving average is $172.61 and its 200-day moving average is $167.07.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The company had revenue of $13.18 billion for the quarter, compared to the consensus estimate of $12.60 billion. During the same period last year, the company earned $3.62 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that Royal Bank Of Canada will post 11.53 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd were issued a $1.64 dividend. The ex-dividend date was Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio (DPR) is 45.17%.

Analyst Upgrades and Downgrades

Several brokerages have commented on RY. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. 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. Zacks Research downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, May 4th. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

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.