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Today, we’re going to explore three TSX blue-chip stocks that offer diversification. While two are Canadian, one is not and remains a strong long-term option among blue-chip stocks. So, let’s delve into them.
Royal Bank of Canada (TSX:RY)
When it comes to investing in financial institutions, Canadian banks rank among the top choices. Royal Bank of Canada (TSX:RY) stands out as the largest among them, boasting substantial size even by American standards.
Royal Bank's significant presence has translated into robust share growth over the past few decades. The company's stronghold in wealth and commercial management has established steady revenue streams, fueling further expansion. Moreover, its diversified portfolio includes investments in emerging markets.
Currently, Royal Bank of Canada is outperforming its peers, with shares returning to previous highs. This momentum is likely to continue, especially after the company's recent investment in HSBC Canada, providing access to high-income newcomers to Canada. With a track record of past success and promising future growth prospects, Royal Bank of Canada is a blue-chip stock suitable for long-term ownership.
Constellation Software (TSX:CSU)
Another formidable blue-chip contender, often overlooked due to its high price, is Constellation Software (TSX:CSU). For investors seeking diversified exposure to the tech sector, Constellation Software is the go-to option.
Since the 1990s, CSU stock has demonstrated the prowess of its management team in identifying valuable, essential software tailored for niche industries. This success story continues to unfold, with CSU stock even spinning off to create a European-focused company, Topicus, following the same trajectory.
Constellation Software has consistently proven its ability to thrive, even during challenging economic climates. With shares up 54% in the past year alone, there's ample reason to consider this stock for long-term investment, even decades down the line.
The Coca-Cola Company (NYSE:KO)
Now, shifting our focus to an American option, The Coca-Cola Company (NYSE:KO) emerges as a prime example. Despite its American roots, Coca-Cola's global reach ensures its resilience across diverse market conditions.
As a perennial performer, Coca-Cola's ubiquitous presence worldwide ensures consistent consumer demand, irrespective of economic fluctuations. Its steady ascent in value has earned it the status of a Dividend King, offering a reliable dividend yield of 3.21%. With shares climbing 15% since the October low, Coca-Cola presents a compelling investment opportunity for Canadian portfolios seeking sustained long-term growth from blue-chip stocks.
