Royal Bank of Canada (NYSE:RY) Shares Sold by Avanza Fonder AB

Avanza Fonder AB lessened its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 8.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,690 shares of the financial services provider's stock after selling 8,000 shares during the quarter. Avanza Fonder AB's holdings in Royal Bank of Canada were worth $9,546,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RY. Vanguard Group Inc. lifted its stake in Royal Bank of Canada by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock valued at $7,136,056,000 after buying an additional 1,104,975 shares during the last quarter. Norges Bank purchased a new position in Royal Bank of Canada during the 4th quarter worth $2,425,519,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Royal Bank of Canada by 9.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock valued at $1,338,156,000 after purchasing an additional 921,276 shares during the period. Scotia Capital Inc. increased its stake in Royal Bank of Canada by 1.9% in the fourth quarter. Scotia Capital Inc. now owns 8,891,023 shares of the financial services provider's stock valued at $1,071,536,000 after purchasing an additional 169,437 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Royal Bank of Canada by 31.2% in the fourth quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock valued at $1,027,061,000 after buying an additional 1,991,364 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Wall Street Zen lowered shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Scotiabank initiated coverage on shares of Royal Bank of Canada in a research report on Thursday, May 15th. They set a "sector outperform" rating for the company. National Bank Financial cut shares of Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank of Canada in a research note on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded down $0.35 during trading hours on Wednesday, hitting $127.96. The stock had a trading volume of 666,750 shares, compared to its average volume of 1,140,063. The stock has a market capitalization of $180.49 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.80 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 1-year low of $102.44 and a 1-year high of $129.85. The stock's fifty day moving average is $120.68 and its two-hundred day moving average is $119.85.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). The business had revenue of $11.38 billion for the quarter, compared to analysts' expectations of $15.77 billion. Royal Bank of Canada had a return on equity of 15.26% and a net margin of 12.08%. The company's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business earned $2.92 earnings per share. As a group, analysts predict that Royal Bank of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be paid a $1.1152 dividend. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a yield of 3.49%. The ex-dividend date is Thursday, July 24th. Royal Bank of Canada's payout ratio is presently 49.78%.

Royal Bank of Canada Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.