Royal Bank of Canada (NYSE:RY) is Cidel Asset Management Inc.’s Largest Position

Cidel Asset Management Inc. raised its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 16.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,997,877 shares of the financial services provider’s stock after acquiring an additional 279,693 shares during the period. Royal Bank of Canada makes up about 6.6% of Cidel Asset Management Inc.’s investment portfolio, making the stock its largest position. Cidel Asset Management Inc.’s holdings in Royal Bank of Canada were worth $158,305,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Merit Financial Group LLC grew its position in Royal Bank of Canada by 17.1% during the fourth quarter. Merit Financial Group LLC now owns 6,676 shares of the financial services provider’s stock worth $529,000 after buying an additional 975 shares in the last quarter. Nippon Life Global Investors Americas Inc. boosted its holdings in shares of Royal Bank of Canada by 8.4% in the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 90,810 shares of the financial services provider’s stock worth $7,192,000 after purchasing an additional 7,020 shares in the last quarter. Lowe Brockenbrough & Co. Inc. purchased a new position in shares of Royal Bank of Canada in the 3rd quarter worth about $220,000. Squarepoint Ops LLC purchased a new position in shares of Royal Bank of Canada in the 3rd quarter worth about $760,000. Finally, Beutel Goodman & Co Ltd. boosted its holdings in shares of Royal Bank of Canada by 4.6% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 18,003,029 shares of the financial services provider’s stock worth $1,460,568,000 after purchasing an additional 791,273 shares in the last quarter. Institutional investors and hedge funds own 42.84% of the company’s stock.

A number of equities research analysts have recently weighed in on RY shares. TD Securities reissued a “buy” rating on shares of Royal Bank of Canada in a research note on Friday, March 20th. CIBC reissued a “buy” rating and issued a $120.00 target price on shares of Royal Bank of Canada in a research note on Monday, February 24th. Citigroup lowered Royal Bank of Canada from a “buy” rating to a “neutral” rating and set a $113.00 target price for the company. in a research note on Tuesday, December 17th. Desjardins lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Finally, Zacks Investment Research lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Wednesday, March 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $106.50.

RY traded up $5.01 during midday trading on Wednesday, reaching $61.37. 252,607 shares of the company’s stock traded hands, compared to its average volume of 2,589,522. The firm has a fifty day moving average of $73.22 and a two-hundred day moving average of $78.53. The stock has a market capitalization of $84.32 billion, a price-to-earnings ratio of 9.03, a P/E/G ratio of 1.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.91. Royal Bank of Canada has a 52 week low of $49.55 and a 52 week high of $82.74.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, February 20th. The financial services provider reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.12. The business had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.08 billion. Royal Bank of Canada had a return on equity of 17.32% and a net margin of 19.36%. Sell-side analysts forecast that Royal Bank of Canada will post 6.87 EPS for the current year.

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 given a dividend of $0.816 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.79. The ex-dividend date is Wednesday, April 22nd. This represents a $3.26 dividend on an annualized basis and a yield of 5.32%. Royal Bank of Canada’s dividend payout ratio is presently 48.28%.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

Further Reading: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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