Forsta AP Fonden Trims Stock Position in Royal Bank Of Canada (NYSE:RY)

Key Points

• Forsta AP Fonden reduced its shareholding in the Royal Bank of Canada by selling 13,200 shares, resulting in a total of 352,700 shares held, valued at approximately $39.7 million.
• Royal Bank of Canada reported earnings per share of $2.20 for the last quarter, missing analysts' estimates by $0.05, with revenue figures also falling short of expectations.
• The bank announced a new quarterly dividend of $1.1152, marking an increase from the prior dividend, with a dividend yield of 3.4% and a payout ratio of 50.33%.

Forsta AP Fonden trimmed its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 352,700 shares of the financial services provider's stock after selling 13,200 shares during the quarter. Forsta AP Fonden's holdings in Royal Bank Of Canada were worth $39,724,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Park Square Financial Group LLC acquired a new stake in Royal Bank Of Canada in the 4th quarter valued at approximately $25,000. Sunbelt Securities Inc. increased its holdings in Royal Bank Of Canada by 2,272.7% in the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Optiver Holding B.V. acquired a new stake in Royal Bank Of Canada in the 4th quarter valued at approximately $35,000. Transce3nd LLC acquired a new stake in Royal Bank Of Canada in the 4th quarter valued at approximately $37,000. Finally, Cullen Frost Bankers Inc. increased its holdings in Royal Bank Of Canada by 295.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 257 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Up 0.1%

Shares of NYSE:RY traded up $0.08 during trading on Friday, hitting $132.52. The company's stock had a trading volume of 1,848,626 shares, compared to its average volume of 1,203,607. The business has a 50 day moving average price of $130.22 and a two-hundred day moving average price of $122.33. The company has a market capitalization of $186.30 billion, a PE ratio of 14.72, a P/E/G ratio of 1.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $134.26.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.05). The business had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The business's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.92 EPS. As a group, research analysts expect that Royal Bank Of Canada will post 9.16 EPS 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. Investors of record on Thursday, July 24th will be paid a dividend of $1.1152 per share. The ex-dividend date is Thursday, July 24th. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.4%. Royal Bank Of Canada's payout ratio is presently 50.33%.

Analyst Ratings Changes

RY has been the subject of several research reports. Wall Street Zen downgraded shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Scotiabank initiated coverage on shares of Royal Bank Of Canada in a report on Thursday, May 15th. They issued a "sector outperform" rating for the company. National Bank Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Finally, Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Royal Bank Of Canada has an average rating of "Moderate Buy" and an average target price of $193.00.

Royal Bank Of Canada Company 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.