New Big Money Means Royal Bank of Canada (RY) Investors Could Reap Benefit

856 institutions hold shares in Royal Bank of Canada (RY), with 128.24k shares held by insiders accounting for 0.01% while institutional investors hold 47.98% of the company’s shares. The shares outstanding are 1.42B, and float is at 1.42B with Short Float at 0.37%. Institutions hold 47.97% of the Float.

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The top institutional shareholder in the company is Royal Bank of Canada with over 73.47 million shares valued at $6.03 billion. The investor’s holdings represent 5.16% of the RY Shares outstanding. As of Dec 30, 2020, the second largest holder is Bank of Montreal/Can/ with 63.69 million shares valued at $5.23 billion to account for 4.47% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 42.95 million shares representing 3.02% and valued at over $3.52 billion, while TD Asset Management, Inc holds 2.13% of the shares totaling 30.35 million with a market value of $2.49 billion.

Royal Bank of Canada (NYSE: RY) is 10.20% higher on its value in year-to-date trading and has touched a low of $49.55 and a high of $90.59 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The RY stock was last observed hovering at around $88.92 in the last trading session, with the day’s gains setting it 1.51% off its average median price target of $100.00 for the next 12 months. It is also 9.57% off the consensus price target high of $100.00 offered by 4 analysts, but current levels are 9.57% higher than the price target low of $100.00 for the same period.

Currently trading at $90.43, the stock is 5.24% and 7.26% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.51 million and changing 1.70% at the moment leaves the stock 19.40% off its SMA200. RY registered 24.41% gain for a year compared to 6-month gain of 21.35%. The firm has a 50-day simple moving average (SMA 50) of $84.80 and a 200-day simple moving average (SMA200) of $78.93.

The stock witnessed a 9.12% loss in the last 1 month and extending the period to 3 months gives it a 10.00%, and is 4.19% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.06% over the week and 1.75% over the month.

Royal Bank of Canada (RY) has around 84030 employees, a market worth around $125.52B and $25.17B in sales. Current P/E ratio is 14.18 and Fwd P/E is 11.28. Profit margin for the company is 36.10%. Distance from 52-week low is 82.50% and -0.18% from its 52-week high. The company has generated returns on investments over the last 12 months (4.00%).

Royal Bank of Canada (RY) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Royal Bank of Canada (RY) is a “Hold”. 4 analysts offering their recommendations for the stock have an average rating of 2.20, where 3 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Royal Bank of Canada is expected to release its quarterly report on 05/27/2021 and quarterly earnings per share for the current quarter are estimated at $1.61 with sales reaching $8.05B over the same period.The EPS is expected to shrink by -10.60% this year, but quarterly earnings will post 2.40% year-over-year. Quarterly sales are estimated to shrink -0.80% in year-over-year returns.

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Royal Bank of Canada (RY): Who are the competitors?

The company’s main competitors (and peers) include Bank of America Corporation (BAC) that is trading 44.42% up over the past 12 months. Short interest in the company’s stock has risen 16.82% from the last report on Jan 14, 2021 to stand at a total of 4.4 million short shares sold with a short interest ratio of 4.05.

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