Andra AP fonden Sells 7,700 Shares of Royal Bank Of Canada $RY

Key Points

• Andra AP fonden reduced its Royal Bank of Canada stake by 4.9%, selling 7,700 shares and retaining 149,377 shares valued at approximately $30.9 million. Institutional investors collectively own 45.31% of the bank.
• RBC reported quarterly EPS of $3.07, exceeding estimates of $2.89, while revenue reached $13.22 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $225.
• The bank declared a quarterly dividend of $1.76 per share, or $7.04 annualized, representing a 3.5% yield and a 43.39% payout ratio.

Andra AP fonden lessened its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 4.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 149,377 shares of the financial services provider's stock after selling 7,700 shares during the period. Andra AP fonden's holdings in Royal Bank Of Canada were worth $30,917,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Royal Bank Of Canada in the fourth quarter worth approximately $3,472,382,000. Geode Capital Management LLC lifted its position in shares of Royal Bank Of Canada by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider's stock valued at $2,389,773,000 after acquiring an additional 882,253 shares during the period. Bank of Nova Scotia bought a new position in Royal Bank Of Canada during the second quarter worth $2,549,157,000. The Manufacturers Life Insurance Company grew its holdings in Royal Bank Of Canada by 2.1% in the first quarter. The Manufacturers Life Insurance Company now owns 12,130,512 shares of the financial services provider's stock worth $1,959,185,000 after purchasing an additional 250,859 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Royal Bank Of Canada during the second quarter valued at about $2,275,797,000. Institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Stock Performance

Shares of NYSE:RY traded down $3.63 during midday trading on Tuesday, reaching $202.56. The company had a trading volume of 400,522 shares, compared to its average volume of 1,452,937. The stock has a market cap of $280.87 billion, a P/E ratio of 17.75, a P/E/G ratio of 1.82 and a beta of 0.79. The company's 50 day moving average price is $209.14 and its 200 day moving average price is $192.07. 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 52-week low of $143.13 and a 52-week high of $218.57.

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 EPS for the quarter, topping the consensus estimate of $2.89 by $0.18. The business had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. As a group, sell-side analysts anticipate that Royal Bank Of Canada will post 11.83 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be given a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, October 26th. Royal Bank Of Canada's dividend payout ratio (DPR) is currently 43.39%.

Analyst Ratings Changes

Several equities research analysts have recently commented on RY shares. TD Securities restated a "buy" rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, July 29th. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday, August 28th. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Royal Bank Of Canada presently has an average rating of "Moderate Buy" and an average target price of $225.00.

About Royal Bank Of Canada

Royal Bank of Canada (RBC) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it is one of Canada's largest banks and serves individuals, businesses, institutions and governments.

RBC provides personal and commercial banking products, including deposit accounts, mortgages, consumer and business loans, credit cards and payment services. Through its wealth management operations, the company offers investment advice, brokerage, asset management, trust and estate services, and private banking.

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