Intact Investment Management Inc. Sells 49,549 Shares of Royal Bank Of Canada $RY

Intact Investment Management Inc. trimmed its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 772,259 shares of the financial services provider's stock after selling 49,549 shares during the period. Royal Bank Of Canada comprises 3.8% of Intact Investment Management Inc.'s holdings, making the stock its 2nd largest position. Intact Investment Management Inc. owned approximately 0.06% of Royal Bank Of Canada worth $131,649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies purchased a new position in Royal Bank Of Canada during the fourth quarter worth approximately $382,000. Cornerstone Planning Group LLC boosted its position in Royal Bank Of Canada by 55.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider's stock worth $41,000 after purchasing an additional 88 shares in the last quarter. Composition Wealth LLC boosted its position in Royal Bank Of Canada by 7.7% during the fourth quarter. Composition Wealth LLC now owns 1,599 shares of the financial services provider's stock worth $273,000 after purchasing an additional 114 shares in the last quarter. Essex Bank purchased a new position in Royal Bank Of Canada during the fourth quarter worth approximately $211,000. Finally, Fifth Third Bancorp boosted its position in Royal Bank Of Canada by 7.7% during the fourth quarter. Fifth Third Bancorp now owns 3,633 shares of the financial services provider's stock worth $619,000 after purchasing an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RY. Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Royal Bank Of Canada in a research report on Thursday, January 22nd. Raymond James Financial reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. Zacks Research downgraded Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Royal Bank Of Canada has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $179.61 on Monday. The company has a market cap of $251.04 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.35 and a beta of 0.80. The stock's 50 day simple moving average is $168.19 and its 200-day simple moving average is $163.48. Royal Bank Of Canada has a 1-year low of $119.59 and a 1-year high of $180.90. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.13. The business had revenue of $13.18 billion for 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 business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.62 earnings per share. As a group, equities research analysts anticipate that Royal Bank Of Canada will post 11.56 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada's dividend payout ratio (DPR) is 45.17%.

About Royal Bank Of Canada

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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