Canerector Inc. Sells 13,267,800 Shares of Royal Bank Of Canada $RY

Key Points

• Canerector Inc. sold 13,267,800 shares of Royal Bank of Canada in Q4, cutting its position by 99.5% to 65,000 shares; its remaining RY holdings were valued at $11,082,000 and made up 13.1% of Canerector's portfolio.
• Other large institutional moves included Norges Bank opening a new stake worth about $3.47 billion, while Vanguard holds roughly 66.34 million RY shares (~$9.78 billion); institutional investors own 45.31% of the stock.
• Analysts have a consensus rating of "Moderate Buy" with a $162 price target; RBC recently beat EPS and revenue estimates and declared a quarterly dividend of $1.64 (annualized $6.56), implying a 3.8% yield.

Canerector Inc. decreased its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 99.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,000 shares of the financial services provider's stock after selling 13,267,800 shares during the period. Royal Bank Of Canada comprises 13.1% of Canerector Inc.'s holdings, making the stock its 5th largest holding. Canerector Inc.'s holdings in Royal Bank Of Canada were worth $11,082,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RY. Norges Bank acquired a new stake in shares of Royal Bank Of Canada during the 4th quarter worth approximately $3,472,382,000. Public Sector Pension Investment Board boosted its position in shares of Royal Bank Of Canada by 1,318.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,936,920 shares of the financial services provider's stock worth $254,759,000 after acquiring an additional 1,800,400 shares in the last quarter. Quadrature Capital Ltd boosted its position in shares of Royal Bank Of Canada by 603.1% during the 3rd quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider's stock worth $257,183,000 after acquiring an additional 1,498,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Royal Bank Of Canada by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider's stock worth $9,777,472,000 after acquiring an additional 1,329,637 shares in the last quarter. Finally, Geode Capital Management LLC boosted 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 worth $2,389,773,000 after acquiring an additional 882,253 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on RY shares. Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Raymond James Financial restated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. Zacks Research lowered shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. Finally, BMO Capital Markets restated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Wednesday, December 17th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Royal Bank Of Canada currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Royal Bank Of Canada Stock Performance

Shares of Royal Bank Of Canada stock opened at $171.94 on Friday. Royal Bank Of Canada has a fifty-two week low of $110.14 and a fifty-two week high of $176.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $240.33 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.29 and a beta of 0.78. The company's 50 day moving average price is $166.54 and its two-hundred day moving average price is $160.37.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.13. The firm had revenue of $13.18 billion during the quarter, compared to the consensus estimate of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.62 earnings per share. On average, equities analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 3.8%. Royal Bank Of Canada's dividend payout ratio (DPR) is presently 45.74%.

About Royal Bank Of Canada

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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