Triasima Portfolio Management inc. Has $41.05 Million Position in Royal Bank Of Canada $RY

Key Points

• Triasima Portfolio Management raised its stake in Royal Bank of Canada by 7% to 240,459 shares valued at about $41.05 million, making RY the firm’s largest holding at 6.1% of its portfolio.
• RBC beat quarterly estimates (EPS $2.94 vs. $2.81; revenue $13.18B vs. $12.60B), announced a quarterly dividend of $1.64 (annual $6.56, yield 3.7%), and holds a consensus analyst rating of Moderate Buy with an average price target of $162.00.

Triasima Portfolio Management inc. raised its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,459 shares of the financial services provider's stock after purchasing an additional 15,780 shares during the period. Royal Bank Of Canada accounts for 6.1% of Triasima Portfolio Management inc.'s investment portfolio, making the stock its biggest position. Triasima Portfolio Management inc.'s holdings in Royal Bank Of Canada were worth $41,047,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Tradewinds Capital Management LLC bought a new stake in shares of Royal Bank Of Canada during the 4th quarter worth $26,000. Johnson Financial Group Inc. bought a new stake in shares of Royal Bank Of Canada during the 3rd quarter worth $27,000. True Wealth Design LLC bought a new stake in shares of Royal Bank Of Canada during the 3rd quarter worth $31,000. Highline Wealth Partners LLC lifted its holdings in shares of Royal Bank Of Canada by 75.4% during the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider's stock worth $35,000 after acquiring an additional 89 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Royal Bank Of Canada during the 3rd quarter worth $38,000. 45.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Zacks Research downgraded shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Friday, February 13th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $179.61 on Monday. The stock has a market cap of $251.04 billion, a PE ratio of 17.19, a PEG ratio of 1.35 and a beta of 0.80. The company's fifty day moving average is $168.19 and its 200 day moving average is $163.48. Royal Bank Of Canada has a 52 week low of $119.59 and a 52 week high of $180.90. 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 (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results 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 company had revenue of $13.18 billion for 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 firm's revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.62 EPS. Research analysts anticipate that Royal Bank Of Canada will post 11.56 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

The firm 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. This represents a $6.56 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada's dividend payout ratio (DPR) is presently 45.17%.

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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