Investment Management Corp of Ontario Buys 120,648 Shares of Royal Bank Of Canada $RY

Investment Management Corp of Ontario lifted its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 84.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 263,963 shares of the financial services provider’s stock after acquiring an additional 120,648 shares during the period. Royal Bank Of Canada makes up 0.6% of Investment Management Corp of Ontario’s investment portfolio, making the stock its 22nd biggest position. Investment Management Corp of Ontario’s holdings in Royal Bank Of Canada were worth $45,003,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Evolve Private Wealth LLC bought a new stake in shares of Royal Bank Of Canada during the 4th quarter worth $205,000. Engineers Gate Manager LP lifted its holdings in shares of Royal Bank Of Canada by 5.5% during the 4th quarter. Engineers Gate Manager LP now owns 11,862 shares of the financial services provider’s stock worth $2,022,000 after acquiring an additional 614 shares during the last quarter. First Manhattan CO. LLC. lifted its holdings in shares of Royal Bank Of Canada by 1.1% during the 4th quarter. First Manhattan CO. LLC. now owns 7,363 shares of the financial services provider’s stock worth $1,255,000 after acquiring an additional 83 shares during the last quarter. Caisse de depot et placement du Quebec lifted its holdings in shares of Royal Bank Of Canada by 1.6% during the 4th quarter. Caisse de depot et placement du Quebec now owns 1,969,337 shares of the financial services provider’s stock worth $336,170,000 after acquiring an additional 30,422 shares during the last quarter. Finally, Bank OZK lifted its holdings in shares of Royal Bank Of Canada by 23.0% during the 4th quarter. Bank OZK now owns 1,689 shares of the financial services provider’s stock worth $288,000 after acquiring an additional 316 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Stock Performance

Royal Bank Of Canada stock opened at $200.77 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $279.02 billion, a PE ratio of 18.04, a P/E/G ratio of 1.58 and a beta of 0.81. The firm has a fifty day simple moving average of $184.31 and a two-hundred day simple moving average of $172.91. Royal Bank Of Canada has a twelve month low of $126.02 and a twelve month high of $202.90.

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

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid a $1.76 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend 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 presently 42.41%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RY. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average target price of $225.00.

Key Royal Bank Of Canada News

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: RBC CEO Dave McKay said artificial intelligence is creating “insatiable” demand for capital, and that Royal Bank of Canada has enough balance-sheet capacity to meet lending needs tied to the AI buildout.
• Positive Sentiment: McKay also said he expects pipeline-related announcements in the coming weeks, which could support loan growth and activity in RBC’s Canadian energy exposure.
• Positive Sentiment: RBC highlighted stronger growth prospects in one Canadian province, suggesting a more favorable macro backdrop in parts of the bank’s home market.
• Neutral Sentiment: RBC launched a partnership with Live Nation Canada allowing Avion members to redeem points for Ticketmaster purchases, a customer-engagement move that is unlikely to materially affect near-term earnings.
• Neutral Sentiment: Separate RBC Capital research notes on Kinetik Holdings, Campbell’s, Black Stone Minerals, and Micron mainly reflect the firm’s broader analyst activity rather than a direct catalyst for Royal Bank of Canada stock.
• Negative Sentiment: There were no major company-specific negatives in the latest headlines, though broader market reaction could be tempered if investors view the recent optimism as already priced in.

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.