5 Stocks Canadian Investors Love

In this article, we discuss 5 stocks Canadian investors love. If you want to read about some more Canadian stocks, go directly to 10 Stocks Canadian Investors Love. 

5. Royal Bank of Canada (NYSE:RY)

Number of Hedge Fund Holders: 21    

Royal Bank of Canada (NYSE:RY) operates as a diversified financial services firm. The company has one of the most solid dividend profiles in the banking business, having consistently paid a dividend to shareholders for the past 32 years. In the last six years, the payouts have registered consistent growth as well. On May 26, the firm declared a quarterly dividend of C$1.28 per share, an increase of close to 7% from the previous dividend of C$1.20 per share. The forward yield was 3.98%. 

On May 26, investment advisory National Bank maintained an Outperform rating on Royal Bank of Canada (NYSE:RY) stock and raised the price target to C$148 from C$147. Analyst Gabriel Dechaine issued the ratings update. 

At the end of the first quarter of 2022, 21 hedge funds in the database of Insider Monkey held stakes worth $855 million in Royal Bank of Canada (NYSE:RY), up from 15 in the previous quarter worth $1 billion.