DKRT Investments Corp. Sells 10,000 Shares of Royal Bank Of Canada $RY

Key Points

• DKRT Investments sold 10,000 shares of Royal Bank of Canada, a 33.3% reduction to 20,000 shares, leaving the position at 0.7% of its portfolio and valued at about $2.95 million per its latest 13F filing.
• Royal Bank of Canada beat quarterly estimates with $2.94 EPS (vs. $2.81) and $13.18B revenue, and announced a quarterly dividend of $1.64 (4.0% yield; ex-dividend April 23, pay May 22).
• Analyst sentiment is generally positive with a consensus "Moderate Buy" and an average target of $162; the stock trades at a P/E of 15.66, market cap ~$229B, and about 45% institutional ownership.

DKRT Investments Corp. reduced its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 33.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,000 shares of the financial services provider's stock after selling 10,000 shares during the period. Royal Bank Of Canada makes up 0.7% of DKRT Investments Corp.'s portfolio, making the stock its 20th biggest position. DKRT Investments Corp.'s holdings in Royal Bank Of Canada were worth $2,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its stake in Royal Bank Of Canada by 33.1% in the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock worth $279,000 after purchasing an additional 575 shares in the last quarter. AQR Capital Management LLC increased its stake in Royal Bank Of Canada by 60.9% during the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider's stock valued at $1,321,000 after purchasing an additional 4,460 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Royal Bank Of Canada by 57.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider's stock valued at $695,000 after purchasing an additional 1,934 shares in the last quarter. Assetmark Inc. raised its holdings in Royal Bank Of Canada by 5.4% in the second quarter. Assetmark Inc. now owns 4,161 shares of the financial services provider's stock worth $547,000 after buying an additional 212 shares during the last quarter. Finally, Atria Investments Inc raised its holdings in Royal Bank Of Canada by 93.3% in the second quarter. Atria Investments Inc now owns 4,412 shares of the financial services provider's stock worth $580,000 after buying an additional 2,129 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Trading Down 0.5%

Shares of Royal Bank Of Canada stock opened at $163.63 on Friday. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $176.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $228.71 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.24 and a beta of 0.79. The company has a fifty day moving average of $169.51 and a 200 day moving average of $156.82.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The business had revenue of $13.18 billion for the quarter, compared to analysts' expectations of $12.60 billion. During the same period last year, the firm earned $3.62 earnings per share. The business's quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be given a dividend of $1.64 per share. The ex-dividend date is Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 4.0%. Royal Bank Of Canada's dividend payout ratio (DPR) is currently 45.74%.

Analysts Set New Price Targets

RY has been the topic of a number of recent analyst reports. BMO Capital Markets reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. UBS Group restated a "buy" rating on shares of Royal Bank Of Canada in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Royal Bank Of Canada in a research report on Thursday, January 22nd. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Finally, National Bank Financial reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, December 4th. 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

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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