Topic: How To Invest

The Successful Investor Hotline – Friday, April 1, 2022

Article Excerpt

ROYAL BANK OF CANADA, $137.32, Toronto symbol RY, is a buy. The bank will now purchase U.K.-based wealth management firm Brewin Dolphin Holdings Plc. Its assets under management totalled 59 billion British pounds (roughly $101 billion Canadian) as of December 31, 2021. Royal will pay $2.6 billion for Brewin Dolphin. To put that in context, the bank earned $4.1 billion, or $2.84 a share, in the three months ended January 31, 2022. If Brewin Dolphin shareholders and regulators approve, Royal expects to complete the purchase by September 30, 2022. The acquisition will make Royal the third-largest wealth management firm in the U.K. and Ireland, with assets under management of 64 billion British pounds and annual revenue of 500 million pounds. The new operations should also lift Royal’s earnings per share by roughly 1% in the first year. Royal Bank is a buy. Royal Bank recent coverage: March 2022 issue Hotline for February 25, 2022 BANK OF NOVA SCOTIA, $89.07, Toronto symbol BNS, is a buy. In…