Pictet Asset Management Holding SA Acquires 111,255 Shares of Royal Bank Of Canada $RY

Key Points

• Pictet Asset Management increased its Royal Bank of Canada stake by 17.7%, buying 111,255 shares in the third quarter to hold 738,824 shares valued at about $145.7 million.
• Analyst sentiment is generally positive: RBC has a consensus “Moderate Buy” rating and a $225 price target. Its latest reported quarterly results beat estimates, with EPS of $3.07 versus $2.89 expected.
• RBC announced a quarterly dividend of C$1.76 per share, equivalent to C$7.04 annualized and a stated yield of 3.5%.

Pictet Asset Management Holding SA boosted its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 17.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 738,824 shares of the financial services provider's stock after purchasing an additional 111,255 shares during the period. Pictet Asset Management Holding SA owned 0.05% of Royal Bank Of Canada worth $145,678,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Bank of Nova Scotia bought a new stake in shares of Royal Bank Of Canada during the second quarter worth $2,549,157,000. The Manufacturers Life Insurance Company raised its holdings in shares of Royal Bank Of Canada by 2.1% in the first quarter. The Manufacturers Life Insurance Company now owns 12,130,512 shares of the financial services provider's stock valued at $1,959,185,000 after buying an additional 250,859 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Royal Bank Of Canada in the second quarter valued at about $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Royal Bank Of Canada during the 2nd quarter worth about $2,260,820,000. Finally, Legal & General Group Plc acquired a new position in Royal Bank Of Canada during the 2nd quarter worth about $1,645,758,000. Institutional investors own 45.31% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RY. Weiss Ratings reissued a "buy (a-)" rating on shares of Royal Bank Of Canada in a research note on Tuesday, October 27th. Keefe, Bruyette & Woods began coverage on Royal Bank Of Canada in a research note on Friday, August 21st. They issued a "market perform" rating for the company. TD Securities reaffirmed a "buy" rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. Finally, Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.00.

Royal Bank Of Canada Stock Down 0.1%

Shares of RY stock opened at $201.06 on Monday. Royal Bank Of Canada has a 1 year low of $143.38 and a 1 year high of $218.57. The firm has a market capitalization of $278.27 billion, a P/E ratio of 17.59, a PEG ratio of 1.67 and a beta of 0.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The firm's fifty day moving average price is $201.46 and its two-hundred day moving average price is $190.02.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 EPS for the quarter, beating the consensus estimate of $2.89 by $0.18. The firm had revenue of $13.22 billion during the quarter, compared to analysts' expectations of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. On average, equities analysts predict that Royal Bank Of Canada will post 11.83 EPS for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be paid a C$1.76 dividend. This represents a $7.04 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada's dividend payout ratio (DPR) is 43.22%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC) is a diversified financial services company founded in 1864 and headquartered in Toronto, Ontario. It provides personal and commercial banking, wealth management, insurance, investor and treasury services, and capital markets services to individuals, businesses, institutions, and governments.

In Canada, RBC offers banking products such as deposit accounts, loans, mortgages, credit cards, and financial advice. Its wealth management and insurance businesses provide investment, advisory, and protection services, while its capital markets operations serve corporate and institutional clients.

RBC serves customers primarily in Canada and the United States, with additional operations and clients in international markets.

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