Swiss Life Asset Management Ltd Has $17.02 Million Stake in Royal Bank Of Canada $RY

Key Points

• Swiss Life Asset Management boosted its stake in Royal Bank of Canada by 16.9% in Q3 to 115,315 shares, valued at approximately $17.02 million.
• RBC beat quarterly estimates with EPS of $2.94 (vs. $2.81 est.) and revenue of $13.18B (vs. $12.60B), and declared a quarterly dividend of $1.64 per share (annualized $6.56, ~4.1% yield; ex-dividend Apr 23, payable May 22).
• Analysts maintain a consensus "Moderate Buy" on RY with a $162 price target (11 Buy, 3 Hold), and institutional investors own about 45.31% of the stock.

Swiss Life Asset Management Ltd boosted its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 16.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,315 shares of the financial services provider's stock after acquiring an additional 16,647 shares during the period. Swiss Life Asset Management Ltd's holdings in Royal Bank Of Canada were worth $17,019,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RY. CIBC Private Wealth Group LLC raised its stake in shares of Royal Bank Of Canada by 4.6% during the third quarter. CIBC Private Wealth Group LLC now owns 13,759 shares of the financial services provider's stock worth $2,028,000 after buying an additional 610 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Royal Bank Of Canada in the 3rd quarter valued at about $4,132,000. Achmea Investment Management B.V. raised its position in shares of Royal Bank Of Canada by 0.8% in the 3rd quarter. Achmea Investment Management B.V. now owns 15,685 shares of the financial services provider's stock valued at $2,312,000 after acquiring an additional 125 shares during the period. Sunbelt Securities Inc. boosted its stake in Royal Bank Of Canada by 5,036.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 565 shares of the financial services provider's stock worth $83,000 after acquiring an additional 554 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in Royal Bank Of Canada by 8.7% during the third quarter. Captrust Financial Advisors now owns 137,312 shares of the financial services provider's stock valued at $20,229,000 after purchasing an additional 10,970 shares during the period. Institutional investors own 45.31% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RY shares. Jefferies Financial Group cut shares of Royal Bank Of Canada from a "buy" rating to a "hold" rating in a research report on Tuesday, November 25th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. UBS Group reissued a "buy" rating on shares of Royal Bank Of Canada in a research note on Tuesday, November 25th. Finally, National Bank Financial reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Royal Bank Of Canada Stock Down 1.2%

RY stock opened at $160.36 on Friday. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $176.19. The business's 50 day simple moving average is $168.13 and its 200 day simple moving average is $158.29. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $224.14 billion, a PE ratio of 15.35, a PEG ratio of 1.22 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, topping 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 net margin of 15.28% and a return on equity of 17.12%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.62 earnings per share. As a group, research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada's payout ratio is 45.74%.

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.

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