Guardian Capital LP Cuts Holdings in Royal Bank Of Canada $RY

Key Points

• Guardian Capital LP trimmed its stake in Royal Bank of Canada by 1.3% in Q3, selling 20,322 shares and holding 1,579,883 shares valued at about $232.9 million, which makes RY the firm's largest holding (≈7.5% of its portfolio).
• Royal Bank of Canada beat estimates with quarterly EPS of $2.94 (vs. $2.81 expected) and revenue of $13.18 billion, and announced a quarterly dividend of $1.64 ($6.56 annualized), about a 4.0% yield.
• Analysts have a consensus rating of Moderate Buy on RY, with 11 Buy and 3 Hold ratings and an average price target of $162.00.

Guardian Capital LP lowered its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,579,883 shares of the financial services provider's stock after selling 20,322 shares during the quarter. Royal Bank Of Canada comprises about 7.5% of Guardian Capital LP's portfolio, making the stock its biggest holding. Guardian Capital LP owned 0.11% of Royal Bank Of Canada worth $232,906,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RY. Toth Financial Advisory Corp acquired a new stake in shares of Royal Bank Of Canada in the 3rd quarter worth approximately $29,000. True Wealth Design LLC acquired a new position in shares of Royal Bank Of Canada during the third quarter valued at approximately $31,000. Atlantic Union Bankshares Corp acquired a new position in shares of Royal Bank Of Canada during the third quarter valued at approximately $38,000. CoreCap Advisors LLC raised its holdings in Royal Bank Of Canada by 103.8% during the third quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider's stock worth $40,000 after purchasing an additional 138 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Royal Bank Of Canada during the second quarter worth approximately $51,000. Institutional investors own 45.31% of the company's stock.

Analyst Ratings Changes

RY has been the subject of a number of research reports. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Raymond James Financial restated an "outperform" rating on shares of Royal Bank Of Canada in a report on Friday, February 13th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Wednesday, December 17th. Zacks Research lowered Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 3rd. Finally, Jefferies Financial Group cut shares of Royal Bank Of Canada from a "buy" rating to a "hold" rating in a research report on Tuesday, November 25th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Royal Bank Of Canada Trading Down 0.5%

Royal Bank Of Canada stock opened at $163.63 on Friday. The firm has a market cap of $228.71 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 1.24 and a beta of 0.79. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $176.19. The firm's 50 day moving average price is $169.51 and its two-hundred day moving average price is $156.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.83.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data 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. The company had revenue of $13.18 billion during the quarter, compared to the consensus estimate of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.62 EPS. On average, research analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada's dividend payout ratio is currently 45.74%.

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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