Royal Bank Of Canada (NYSE:RY) Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG has decreased its stake in the Royal Bank of Canada by 1.0%, owning now 583,754 shares after selling 5,606 shares in the first quarter.
• Royal Bank of Canada recently announced a quarterly dividend of $1.1152 per share, raising its previous dividend of $1.03, resulting in an annualized yield of 3.5%.
• Despite missing earnings estimates with an EPS of $2.20, analysts forecast a consensus rating of "Moderate Buy," with an average price target of $193.00.

J. Safra Sarasin Holding AG cut its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 583,754 shares of the financial services provider's stock after selling 5,606 shares during the quarter. Royal Bank Of Canada makes up approximately 1.2% of J. Safra Sarasin Holding AG's portfolio, making the stock its 26th largest holding. J. Safra Sarasin Holding AG's holdings in Royal Bank Of Canada were worth $65,749,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bank of Nova Scotia boosted its position in Royal Bank Of Canada by 8.0% during the first quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock worth $1,892,975,000 after acquiring an additional 1,249,589 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in Royal Bank Of Canada by 5.6% during the first quarter. Pathway Financial Advisers LLC now owns 8,409 shares of the financial services provider's stock worth $948,000 after purchasing an additional 443 shares during the period. PNC Financial Services Group Inc. raised its stake in Royal Bank Of Canada by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 86,847 shares of the financial services provider's stock worth $9,789,000 after purchasing an additional 3,358 shares during the period. Fiduciary Wealth Partners LLC purchased a new position in Royal Bank Of Canada during the first quarter worth approximately $236,000. Finally, TIAA Trust National Association raised its stake in Royal Bank Of Canada by 2.7% during the first quarter. TIAA Trust National Association now owns 11,768 shares of the financial services provider's stock worth $1,326,000 after purchasing an additional 310 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Royal Bank Of Canada Trading Up 1.0%

Shares of RY stock traded up $1.33 during mid-day trading on Monday, reaching $129.94. The company's stock had a trading volume of 386,417 shares, compared to its average volume of 1,307,320. The company's 50 day simple moving average is $129.81 and its 200-day simple moving average is $121.97. Royal Bank Of Canada has a 12-month low of $102.89 and a 12-month high of $134.26. 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 firm has a market capitalization of $182.66 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.47 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results 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). Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The firm had revenue of $11.38 billion for the quarter, compared to analysts' expectations of $15.77 billion. During the same period last year, the firm earned $2.92 EPS. The business's quarterly revenue was up 10.7% on a year-over-year basis. On average, research analysts predict 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 declared 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. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 annualized dividend and a yield of 3.4%. Royal Bank Of Canada's payout ratio is presently 50.33%.

About Royal Bank Of Canada

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.