Pictet Asset Management Holding SA Acquires 39,604 Shares of Royal Bank Of Canada $RY

Pictet Asset Management Holding SA raised its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 6.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 628,758 shares of the financial services provider’s stock after acquiring an additional 39,604 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Royal Bank Of Canada were worth $101,308,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RY. Florida Trust Wealth Management Co raised its position 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 purchasing an additional 60 shares during the last quarter. Echo45 Advisors LLC raised its position in shares of Royal Bank Of Canada by 5.0% during the first quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 60 shares during the last quarter. Fiduciary Financial Group LLC boosted its holdings in Royal Bank Of Canada by 3.4% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 61 shares during the last quarter. Alta Capital Management LLC increased its position 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 valued at $287,000 after purchasing an additional 65 shares during the period. Finally, Burney Co. lifted its position in shares of Royal Bank Of Canada by 1.7% in the 4th quarter. Burney Co. now owns 4,425 shares of the financial services provider’s stock worth $754,000 after purchasing an additional 76 shares during the period. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $203.00 on Monday. The company has a market cap of $282.12 billion, a P/E ratio of 18.24, a PEG ratio of 1.61 and a beta of 0.81. The company has a fifty day simple moving average of $188.63 and a 200 day simple moving average of $175.11. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 12-month low of $127.38 and a 12-month high of $204.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $3.12 earnings per share. Sell-side analysts predict that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

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

Royal Bank Of Canada 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.