Heathbridge Capital Management Ltd. Reduces Stock Holdings in Royal Bank Of Canada (NYSE:RY)

Heathbridge Capital Management Ltd. cut its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 9.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 82,500 shares of the financial services provider's stock after selling 8,800 shares during the quarter. Royal Bank Of Canada accounts for about 3.8% of Heathbridge Capital Management Ltd.'s portfolio, making the stock its 14th largest holding. Heathbridge Capital Management Ltd.'s holdings in Royal Bank Of Canada were worth $9,302,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Baskin Financial Services Inc. grew its stake in Royal Bank Of Canada by 5.0% in the 1st quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider's stock valued at $7,079,000 after acquiring an additional 3,006 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Royal Bank Of Canada by 1.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 341,776 shares of the financial services provider's stock valued at $38,525,000 after acquiring an additional 3,767 shares during the last quarter. Capital Investment Counsel Inc boosted its position in shares of Royal Bank Of Canada by 24.4% during the 1st quarter. Capital Investment Counsel Inc now owns 10,146 shares of the financial services provider's stock valued at $1,144,000 after acquiring an additional 1,989 shares during the last quarter. Unigestion Holding SA boosted its position in shares of Royal Bank Of Canada by 48.7% during the 1st quarter. Unigestion Holding SA now owns 210,566 shares of the financial services provider's stock valued at $23,705,000 after acquiring an additional 68,939 shares during the last quarter. Finally, Diversified Trust Co boosted its position in shares of Royal Bank Of Canada by 68.1% during the 1st quarter. Diversified Trust Co now owns 79,642 shares of the financial services provider's stock valued at $8,977,000 after acquiring an additional 32,255 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RY. National Bank Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. Cibc World Mkts raised shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. Finally, Wall Street Zen cut shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. One analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Royal Bank Of Canada presently has an average rating of "Moderate Buy" and an average price target of $193.00.

Royal Bank Of Canada Stock Up 1.0%

NYSE:RY traded up $1.35 during mid-day trading on Wednesday, hitting $131.99. The stock had a trading volume of 744,493 shares, compared to its average volume of 1,142,642. The stock has a 50-day simple moving average of $127.83 and a two-hundred day simple moving average of $120.94. The company has a market capitalization of $186.18 billion, a PE ratio of 14.67, a PEG ratio of 1.51 and a beta of 0.89. Royal Bank Of Canada has a twelve month low of $102.89 and a twelve month high of $133.84. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.05). The firm had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The firm's revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $2.92 EPS. On average, equities 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 paid a $1.1152 dividend. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio is currently 50.22%.

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.