Bessemer Group Inc. Sells 345,662 Shares of Royal Bank Of Canada (NYSE:RY)

Bessemer Group Inc. trimmed its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 82.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 71,519 shares of the financial services provider's stock after selling 345,662 shares during the quarter. Bessemer Group Inc.'s holdings in Royal Bank Of Canada were worth $8,064,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RY. Park Square Financial Group LLC bought a new position in Royal Bank Of Canada during the 4th quarter worth approximately $25,000. WealthTrak Capital Management LLC purchased a new stake in shares of Royal Bank Of Canada during the fourth quarter valued at approximately $28,000. Optiver Holding B.V. bought a new position in shares of Royal Bank Of Canada in the fourth quarter worth approximately $35,000. Transce3nd LLC bought a new position in shares of Royal Bank Of Canada in the fourth quarter worth approximately $37,000. Finally, AdvisorNet Financial Inc increased its stake in shares of Royal Bank Of Canada by 93.7% in the first quarter. AdvisorNet Financial Inc now owns 368 shares of the financial services provider's stock worth $41,000 after buying an additional 178 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RY shares. National Bank Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Cibc World Mkts raised Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. Finally, Wall Street Zen cut Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.

Royal Bank Of Canada Trading Up 1.5%

NYSE RY traded up $1.95 during trading on Monday, hitting $131.66. The company had a trading volume of 828,020 shares, compared to its average volume of 1,145,330. The company's fifty day moving average is $125.04 and its 200-day moving average is $120.12. Royal Bank Of Canada has a one year low of $102.89 and a one year high of $131.69. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a market cap of $185.72 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.49 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The company had revenue of $11.38 billion for the quarter, compared to analysts' expectations of $15.77 billion. During the same quarter in the prior year, the firm earned $2.92 EPS. Royal Bank Of Canada's quarterly revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be paid a $1.1152 dividend. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Thursday, July 24th. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's dividend payout ratio (DPR) is presently 45.67%.

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.