Pictet Asset Management Holding SA Raises Holdings in Royal Bank Of Canada $RY

Key Points

• Pictet Asset Management increased its stake in Royal Bank of Canada by 6.8%, buying 37,586 shares to hold 589,154 shares worth about $100.57 million.
• RBC beat quarter expectations with $2.94 EPS vs. $2.81 expected and revenue of $13.18 billion (vs. $12.60 billion), and reported a 17.12% return on equity and a 15.28% net margin.
• The bank announced a quarterly dividend of $1.64 (annualized $6.56) for a 3.7% yield (ex-dividend April 23, payable May 22), while analysts hold a consensus rating of Moderate Buy with a $162 target price.

Pictet Asset Management Holding SA boosted its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 6.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 589,154 shares of the financial services provider's stock after purchasing an additional 37,586 shares during the quarter. Pictet Asset Management Holding SA's holdings in Royal Bank Of Canada were worth $100,570,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of RY. Canerector Inc. increased 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 during the period. Quadrature Capital Ltd boosted its position in shares of Royal Bank Of Canada by 603.1% during the 3rd quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider's stock worth $257,183,000 after acquiring an additional 1,498,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Royal Bank Of Canada by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider's stock worth $9,777,472,000 after acquiring an additional 1,329,637 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Royal Bank Of Canada by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider's stock worth $1,074,879,000 after acquiring an additional 740,276 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Royal Bank Of Canada by 342.7% during the 3rd quarter. Two Sigma Investments LP now owns 543,320 shares of the financial services provider's stock worth $80,042,000 after acquiring an additional 420,595 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Stock Up 0.5%

Shares of NYSE RY opened at $177.60 on Wednesday. The stock has a market cap of $248.23 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.33 and a beta of 0.78. 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 52-week low of $117.43 and a 52-week high of $180.81. The business has a 50-day moving average price of $167.91 and a 200 day moving average price of $163.02.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its earnings results 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. The firm had revenue of $13.18 billion during the quarter, compared to analysts' expectations of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The business's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.62 EPS. Equities research analysts forecast that Royal Bank Of Canada will post 11.56 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be given a $1.64 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.7%. Royal Bank Of Canada's dividend payout ratio is 45.17%.

Analyst Ratings Changes

RY has been the subject of several analyst reports. Raymond James Financial reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. Zacks Research cut Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Royal Bank Of Canada in a research report on Thursday, January 22nd. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.00.

Royal Bank Of Canada Company 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.

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