1832 Asset Management LP recently announced the acquisition of new stake in Royal Bank of Canada (NYSE:RY). The institutional investor has increased its shareholding in the Financial company by 4.58% to 50.72 million shares with purchase of 2.22 million shares. This fresh investment now brings its stake to 3.66% valued currently at $5.15 billion. In addition, RBC Dominion Securities, Inc. raised its holdings by 1.14 million to 34.95 million shares. And The Vanguard Group, Inc. has lifted its position by 0.98% or 0.33 million shares – to 34.15 million shares.
With over 1.77 million Royal Bank of Canada (RY) shares trading Monday and a closing price of $95.62 on the day, the dollar volume was approximately $168.95 million. The shares have shown a negative half year performance of -2.47% and its price on 03/13/23 lost nearly -0.64%. Currently, there are 1.38B common shares owned by the public and among those 1.37B shares have been available to trade.
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The analysts have set the share’s price value over the next 12 months at a high of $104.00 and a low of $103.02. The average price target is 7.52% above its recent price level and an upside to the estimated low will see the stock gain 7.18% over that period. But an upside of 8.06% will see the stock hit the forecast high price target while median target price for the stock is $103.51.
The top 3 mutual fund holders in Royal Bank of Canada are Vanguard Total International Stoc, Government Pension Fund – Global, and RBC Canadian Dividend Fund. Vanguard Total International Stoc owns 18.51 million shares of the company’s stock, all valued at over $1.88 billion. The company sold -0.12 million shares recently to bring their total holdings to about 1.34% of the shares outstanding. Government Pension Fund – Global bought 1.4 million shares to see its total holdings expand to 16.5 million shares valued at over $1.67 billion and representing 1.19% of the shares outstanding. RBC Canadian Dividend Fund sold -0.25 million shares to bring its total holdings to over 12.98 million shares at a value of $1.32 billion. RBC Canadian Dividend Fund now owns shares totaling to 0.94% of the shares outstanding.
Shares of Royal Bank of Canada (NYSE: RY) opened at $94.93, down -$1.31 from a prior closing price of $96.24. However, the script later moved the day high at 96.45, down -0.64%. The company’s stock has a 5-day price change of -5.10% and -1.06% over the past three months. RY shares are trading 1.70% year to date (YTD), with the 12-month market performance down to -11.69% lower. It has a 12-month low price of $83.63 and touched a high of $114.55 over the same period. RY has an average intraday trading volume of 967.40K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.42%, -4.62%, and -1.52% respectively.
Institutional ownership of Royal Bank of Canada (NYSE: RY) shares accounts for 52.30% of the company’s 1.38B shares outstanding. Mutual fund holders own 17.47%, while other institutional holders and individual stakeholders account for 27.93% and — respectively.
It has a market capitalization of $134.83B and a beta (3y monthly) value of 0.82. The stock’s trailing 12-month PE ratio is 12.58, while the earnings-per-share (ttm) stands at $7.60. The company has a PEG of 1.73 and the debt-to-equity ratio at 3.36. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.10% over the week and 1.59% over the month.
Analysts forecast that Royal Bank of Canada (RY) will achieve an EPS of $2.21 for the current quarter, $2.15 for the next quarter and $9.41 for 2024. The lowest estimate earnings-per-share for the quarter is $2.11 while analysts give the company a high EPS estimate of $2.38. Comparatively, EPS for the current quarter was $2.26 a year ago. EPS should shrink at an annualized rate of 7.27% over the next five years, compared to 7.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Royal Bank of Canada (RY) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 2 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Stifel on their part issued Hold rating on February 18, 2022.
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