Algert Global LLC Has $2.36 Million Stock Position in Royal Bank Of Canada $RY

Key Points

• Algert Global cut its Royal Bank of Canada position by 48.1% in the second quarter, selling 10,611 shares and retaining 11,431 shares valued at approximately $2.36 million.
• RBC reported a strong third quarter, with earnings of $3.07 per share and revenue of $13.22 billion exceeding analyst estimates. Capital markets and commercial banking led the performance.
• The bank declared a quarterly dividend of $1.76 per share, representing an annualized yield of about 3.4%; analysts maintain a consensus “Moderate Buy” rating, though RBC’s valuation is relatively full near its 52-week high.

Algert Global LLC lessened its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 48.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,431 shares of the financial services provider's stock after selling 10,611 shares during the period. Algert Global LLC's holdings in Royal Bank Of Canada were worth $2,364,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of RY. HighTower Advisors LLC raised its holdings in shares of Royal Bank Of Canada by 18.5% during the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider's stock valued at $16,407,000 after purchasing an additional 15,046 shares during the period. Fisher Asset Management LLC grew its stake in shares of Royal Bank Of Canada by 6.1% in the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider's stock valued at $1,086,601,000 after buying an additional 368,534 shares during the period. Rathbones Group PLC grew its stake in shares of Royal Bank Of Canada by 9.0% in the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider's stock valued at $55,480,000 after buying an additional 26,782 shares during the period. Indivisible Partners bought a new stake in Royal Bank Of Canada in the 4th quarter valued at about $7,335,000. Finally, M. Kulyk & Associates LLC acquired a new position in Royal Bank Of Canada during the 2nd quarter worth approximately $2,953,000. Institutional investors own 45.31% of the company's stock.

Trending Headlines about Royal Bank Of Canada

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Record quarterly results beat expectations. RBC reported third-quarter net income of C$6.02 billion, or C$4.23 per share, up from C$5.41 billion and C$3.75 per share a year earlier. On the U.S. reporting measure cited by analysts, earnings were $3.07 per share versus the $2.89 consensus, while revenue of $13.22 billion exceeded the $12.98 billion estimate. Royal Bank of Canada Notches Record Income
• Positive Sentiment: Capital markets and commercial banking led the performance. Management said RBC continues to raise the bar, and coverage highlighted strength in these businesses as key drivers of the earnings beat. The results also exceeded expectations alongside strong reports from several Canadian peers, reinforcing confidence in the domestic banking sector. RBC tops expectations on strength in capital markets, commercial banking
• Positive Sentiment: The dividend remains a source of shareholder support. RBC declared a quarterly dividend of C$1.76 per share, equivalent to an indicated yield of approximately 3.4% based on the cited market data. Royal Bank of Canada dividend announcement
• Neutral Sentiment: Analyst commentary is constructive but valuation is a consideration. Post-earnings coverage views the results as supportive of the investment case, but RBC trades at a relatively full valuation, with a P/E ratio near 18 and shares close to their 52-week high. That may limit the immediate reaction unless earnings growth continues. Is Royal Bank a Good Stock to Buy After Its Q3 Earnings?
• Neutral Sentiment: Oil-market uncertainty is a broader macro risk. RBC Capital Markets strategists see additional hurdles for oil prices despite increased Gulf supply. This is not a direct RBC corporate development, but prolonged energy-market volatility could affect Canadian economic conditions, capital-markets activity and credit demand. Wall Street divisions over oil prices
• Negative Sentiment: A wrongful-dismissal ruling creates a reputational and legal overhang. Commentary says RBC paid a high price in a case involving a former financial adviser, potentially drawing attention to its employment-investigation practices. The item does not indicate a material earnings impact, but it could weigh modestly on sentiment. RBC pays high price for wrongful dismissal of financial adviser

Wall Street Analyst Weigh In

RY has been the subject of a number of research reports. TD Securities reissued a "buy" rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods assumed coverage on Royal Bank Of Canada in a research report on Friday, August 21st. They set a "market perform" rating on the stock. Weiss Ratings upgraded Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, July 29th. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday. Finally, Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $225.00.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $204.49 on Friday. The company has a market capitalization of $283.55 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.53 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a 52-week low of $143.13 and a 52-week high of $218.57. The company has a 50-day simple moving average of $209.04 and a 200 day simple moving average of $187.92.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.94% and a net margin of 16.17%.The company had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $12.98 billion. On average, research analysts predict that Royal Bank Of Canada will post 11.75 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be given a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada's payout ratio is presently 44.56%.

Royal Bank Of Canada Profile

Royal Bank of Canada NYSE: RY is a diversified financial services company and one of Canada's largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.

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