5 Banking and Finance Stocks to Buy Today According To Rajiv Jain’s GQG Partners

4. Royal Bank of Canada (NYSE:RY)

GQG Partners’ Stake Value: $759 million

Percentage of GQG Partners’ 13F Portfolio: 1.88%

Number of Hedge Fund Holders: 16

Royal Bank of Canada (NYSE:RY), as the name suggests, is a Canadian bank based out of Toronto. It is also one of the oldest banks in the world, after being set up in 1864. The bank offers several services such as checking and savings accounts, lending, financing, brokerage accounts, and credit cards.

By the end of its fiscal Q1, Royal Bank of Canada (NYSE:RY) had raked in C$13 billion in revenue and C$2.8 in GAAP EPS, in a strong set of results that saw it beat analyst estimates for both. Scotiabank raised its price target to C$162 from C$146 in February 2022 and set an Outperform rating on the shares.

GQG Partners’s stake in the Royal Bank of Canada (NYSE:RY) was worth $759 million during last year’s final quarter. It came through the firm holding 7 million shares and represented 1.88% of its portfolio. Insider Monkey’s analysis of 924 hedge funds for Q4 2021 revealed that 16 had invested in the bank.

Royal Bank of Canada (NYSE:RY)’s largest investor after GQG Partners is Jim Simons’s Renaissance Technologies. It owns 639,494 shares worth $67 million.