7,988 Royal Bank Of Canada $RY Shares Sold by MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd

Key Points

• MORGUARD LINCLUDEN GLOBAL INVESTMENTS reduced its Royal Bank of Canada stake by 2.5%, selling 7,988 shares and retaining 311,515 shares valued at approximately $61.2 million. RBC represents about 7.8% of the fund’s portfolio.
• RBC shares recently traded at $204.64, up 0.8%, with a market capitalization of roughly $283.2 billion. The bank exceeded quarterly earnings and revenue expectations, reporting $3.07 in EPS and $13.22 billion in revenue.
• RBC announced a quarterly dividend of C$1.76, equivalent to an annualized yield of about 3.4%. Analysts maintain a consensus “Moderate Buy” rating with a $225 price target.

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd reduced its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 311,515 shares of the financial services provider's stock after selling 7,988 shares during the quarter. Royal Bank Of Canada accounts for approximately 7.8% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's holdings, making the stock its biggest position. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's holdings in Royal Bank Of Canada were worth $61,241,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Generali Asset Management SPA SGR increased its holdings in Royal Bank Of Canada by 6.8% in the 3rd quarter. Generali Asset Management SPA SGR now owns 63,296 shares of the financial services provider's stock valued at $12,443,000 after buying an additional 4,031 shares during the period. SYM FINANCIAL Corp raised its stake in shares of Royal Bank Of Canada by 10.2% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,119 shares of the financial services provider's stock valued at $220,000 after buying an additional 104 shares in the last quarter. Noesis Capital Mangement Corp bought a new position in shares of Royal Bank Of Canada during the 3rd quarter worth about $498,000. Westover Capital Advisors LLC lifted its holdings in shares of Royal Bank Of Canada by 3.7% during the 3rd quarter. Westover Capital Advisors LLC now owns 6,410 shares of the financial services provider's stock worth $1,260,000 after acquiring an additional 226 shares during the period. Finally, Kingswood Wealth Advisors LLC boosted its position in shares of Royal Bank Of Canada by 52.3% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 3,367 shares of the financial services provider's stock valued at $662,000 after acquiring an additional 1,156 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Trading Up 0.8%

Shares of RY stock opened at $204.64 on Thursday. Royal Bank Of Canada has a 12-month low of $143.38 and a 12-month high of $218.57. The company has a market capitalization of $283.21 billion, a P/E ratio of 17.90, a P/E/G ratio of 1.80 and a beta of 0.80. The firm has a 50-day moving average price of $201.65 and a 200 day moving average price of $188.77. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, beating analysts' consensus estimates of $2.89 by $0.18. The company had revenue of $13.22 billion during the quarter, compared to analyst estimates of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. Research analysts forecast that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be paid a C$1.76 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 annualized dividend and a yield of 3.4%. Royal Bank Of Canada's dividend payout ratio is presently 43.39%.

Analyst Ratings Changes

Several research analysts recently issued reports on RY shares. TD Securities reissued a "buy" rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods assumed coverage on Royal Bank Of Canada in a report on Friday, August 21st. They set a "market perform" rating on the stock. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. Finally, Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $225.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada NYSE: RY is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC's personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.

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