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Forum Financial Management LP Has $731,000 Stake in Royal Bank Of Canada (NYSE:RY)

Royal Bank Of Canada logo with Finance background

Forum Financial Management LP decreased its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 63.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,489 shares of the financial services provider's stock after selling 11,100 shares during the quarter. Forum Financial Management LP's holdings in Royal Bank Of Canada were worth $731,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. boosted its position in Royal Bank Of Canada by 13.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 84 shares in the last quarter. Ruggaard & Associates LLC boosted its stake in Royal Bank Of Canada by 1.8% in the fourth quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider's stock valued at $565,000 after acquiring an additional 85 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Royal Bank Of Canada by 3.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock worth $345,000 after purchasing an additional 90 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Royal Bank Of Canada by 2.8% in the first quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider's stock valued at $378,000 after purchasing an additional 91 shares during the last quarter. Finally, Great Lakes Retirement Inc. raised its stake in shares of Royal Bank Of Canada by 0.8% in the 1st quarter. Great Lakes Retirement Inc. now owns 11,362 shares of the financial services provider's stock valued at $1,281,000 after acquiring an additional 92 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Stock Up 0.7%

RY opened at $132.94 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $128.33 and a two-hundred day moving average price of $121.11. The company has a market cap of $187.52 billion, a PE ratio of 14.77, a P/E/G ratio of 1.51 and a beta of 0.89. Royal Bank Of Canada has a 52 week low of $102.89 and a 52 week high of $133.84.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings data 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). The business had revenue of $11.38 billion for 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%. Royal Bank Of Canada's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.92 EPS. As a group, research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be issued a $1.1152 dividend. The ex-dividend date is Thursday, July 24th. This represents a $4.46 annualized dividend and a dividend yield of 3.36%. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's dividend payout ratio is currently 45.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RY. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Scotiabank began coverage on shares of Royal Bank Of Canada in a report on Thursday, May 15th. They set 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. Finally, Cibc World Mkts upgraded Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $193.00.

Read Our Latest Report on Royal Bank Of Canada

About Royal Bank Of Canada

(Free Report)

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.

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Institutional Ownership by Quarter for Royal Bank Of Canada (NYSE:RY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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