9,385 Royal Bank Of Canada $RY Shares Sold by Brown Shipley& Co Ltd

Key Points

• Brown Shipley & Co. cut its Royal Bank of Canada stake by 88.1% in the third quarter, selling 9,385 shares and retaining 1,265 shares valued at approximately $249,000.
• Royal Bank of Canada reported quarterly EPS of $3.07, exceeding analyst estimates of $2.89, while revenue reached $13.22 billion. Institutional investors own 45.31% of the company.
• The bank declared a quarterly dividend of C$1.76 per share, equivalent to an annualized C$7.04 payout and a 3.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $225.

Brown Shipley& Co Ltd lessened its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 88.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,265 shares of the financial services provider's stock after selling 9,385 shares during the quarter. Brown Shipley& Co Ltd's holdings in Royal Bank Of Canada were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of RY. Bank of Nova Scotia purchased a new stake in shares of Royal Bank Of Canada in the 2nd quarter valued at $2,549,157,000. The Manufacturers Life Insurance Company acquired a new position in shares of Royal Bank Of Canada in the 2nd quarter valued at $2,296,717,000. Canada Pension Plan Investment Board acquired a new stake in Royal Bank Of Canada in the 2nd quarter valued at approximately $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Royal Bank Of Canada in the second quarter valued at approximately $2,260,820,000. Finally, Legal & General Group Plc acquired a new position in Royal Bank Of Canada in the second quarter valued at approximately $1,645,758,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Price Performance

RY stock traded up $0.71 during trading on Friday, hitting $191.27. The company had a trading volume of 219,269 shares, compared to its average volume of 1,427,572. The company has a fifty day moving average price of $205.43 and a two-hundred day moving average price of $195.20. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a fifty-two week low of $143.13 and a fifty-two week high of $218.57. The company has a market cap of $264.72 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.71 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.89 by $0.18. The firm had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. Equities research analysts expect 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 dividend of C$1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, October 26th. Royal Bank Of Canada's payout ratio is presently 44.44%.

Wall Street Analyst Weigh In

Several research firms have recently commented on RY. Keefe, Bruyette & Woods started coverage on shares of Royal Bank Of Canada in a research note on Friday, August 21st. They issued a "market perform" rating for the company. Scotiabank restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Royal Bank Of Canada has an average rating of "Moderate Buy" and a consensus target price 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 serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.

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