1832 Asset Management LP has recently announced that it has increased stake in Royal Bank of Canada (NYSE:RY) by 4.18%. After grabbing 52.85 million shares, the institutional investor is now in possession of 2.12 million shares of the Financial Company. The new investment brought the stake of investor firm to 3.81% having worth around $5.25 billion. Moreover, TD Asset Management, Inc. increased its share by 0.99 million to have a control over 42.05 million shares. And CIBC World Markets, Inc. raised its holdings to 1.52 million shares by acquiring 22.56 million shares or 1.63% of the stake.
Royal Bank of Canada (RY) concluded trading on 05/24/23 at a closing price of $91.10, with 1.01 million shares of worth about $92.04 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -7.79% during that period and on Wednesday the price saw a loss of about -2.40%. Currently the company’s common shares owned by public are about 1.38B shares, out of which, 1.37B shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the RY stock and their offered price forecasts bring an average price target of $103.51. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $104.00 and could fall to a lowest price of $103.02. The stock’s current price level is 12.81% above of average price target set by the analysts, while a rise to estimated low would result in gain of 11.57% for the stock. However, touching the estimated high of $104.00 would mean a gain of 12.4% for the stock.
Vanguard Total International Stoc, Government Pension Fund – Global, and RBC Canadian Dividend Fund are the top 3 mutual funds which are holding stakes in Royal Bank of Canada Vanguard Total International Stoc is currently holding 18.55 million shares of worth totaling $1.84 billion. The company recently came buying 50326.0 shares which brought its stake up to 1.34% of the company’s outstanding shares. Government Pension Fund – Global bought 1.4 million shares, after which its hold over company’s outstanding shares expand to 1.19%, leaving 16.5 million shares with the mutual fund that have a worth of about $1.64 billion. RBC Canadian Dividend Fund, after buying 12.98 million shares, have now control over 0.94% of the stake in the company. It holds 0.0 shares of worth $1.29 billion.
Royal Bank of Canada (NYSE: RY) started trading at $92.31, below -$1.03 from concluding price of the previous day. However, the stock later moved at a day high price of 92.63, or with a loss of -2.40%. Stock saw a price change of -4.78% in past 5 days and over the past one month there was a price change of -5.73%. Year-to-date (YTD), RY shares are showing a performance of -3.11% which decreased to -9.61% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $83.63 but also hit the highest price of $106.43 during that period. The average intraday trading volume for Royal Bank of Canada shares is 885.39K. The stock is currently trading -5.50% below its 20-day simple moving average (SMA20), while that difference is down -5.54% for SMA50 and it goes to -5.72% lower than SMA200.
1832 Asset Management LP acquired 52.85 million shares of Royal Bank of Canada having value of about $5.25 billion. Data submitted at the U.S SEC by 1832 Asset Management LP revealed that the firm now holds 2.12 million shares in the company valued at close to $193225833.0, or have control over 4.18% stake in the company. Royal Bank of Canada (NYSE: RY) currently have 1.38B outstanding shares and institutions hold larger chunk of about 52.30% of that. Holding of mutual funds in the company is about 17.00% while other institutional holders and individual stake holders have control over 28.19% and — of the stake respectively.
The stock has a current market capitalization of $126.98B and its 3Y-monthly beta is at 0.81. PE ratio of stock for trailing 12 months is 11.70, while it has posted earnings per share of $7.79 in the same period. Its PEG reads 1.61 while making debt-to-equity ratio of 3.36. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RY, volatility over the week remained 1.40% while standing at 1.45% over the month.
Analysts are in expectations that Royal Bank of Canada (RY) stock would likely to be making an EPS of $2.05 in the current quarter, while forecast for next quarter EPS is $2.13 and it is $9.21 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.96 which is $2.14 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.32 in the same quarter a year ago. EPS is likely to shrink at an annualized rate of 7.27% for next 5-years, compared to annual growth of 7.90% made by the stock over the past 5-years.
Analysts at 7 brokerage firms have issued recommendations for the Royal Bank of Canada (RY)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.30. Out of those 7 Wall Street analysts, 4 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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