K.J. Harrison & Partners Inc trimmed its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 29.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,998 shares of the financial services provider's stock after selling 51,958 shares during the quarter. Royal Bank Of Canada makes up about 2.8% of K.J. Harrison & Partners Inc's holdings, making the stock its 6th biggest position. K.J. Harrison & Partners Inc's holdings in Royal Bank Of Canada were worth $14,320,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Park Square Financial Group LLC acquired a new position in Royal Bank Of Canada in the 4th quarter valued at $25,000. WealthTrak Capital Management LLC acquired a new position in Royal Bank Of Canada in the 4th quarter valued at $28,000. Sunbelt Securities Inc. increased its stake in Royal Bank Of Canada by 2,272.7% in the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock valued at $29,000 after buying an additional 250 shares during the period. Optiver Holding B.V. acquired a new position in Royal Bank Of Canada in the 4th quarter valued at $35,000. Finally, Transce3nd LLC acquired a new position in Royal Bank Of Canada in the 4th quarter valued at $37,000. 45.31% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
RY has been the topic of several recent research reports. CIBC reissued 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. Cibc World Mkts raised shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Scotiabank assumed coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating on the stock. Finally, Wall Street Zen cut shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $193.00.
Check Out Our Latest Report on RY
Royal Bank Of Canada Price Performance
Shares of NYSE:RY traded down $0.56 on Friday, reaching $129.61. 731,471 shares of the company were exchanged, compared to its average volume of 1,146,604. The firm has a market cap of $182.82 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 1.49 and a beta of 0.89. Royal Bank Of Canada has a 1-year low of $102.89 and a 1-year high of $130.96. The company has a 50-day moving average of $124.71 and a 200-day moving average of $120.10. 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 quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). The business 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%. Royal Bank Of Canada's revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.92 earnings per share. Equities analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.
Royal Bank Of Canada Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be paid a $1.1152 dividend. This represents a $4.46 dividend on an annualized basis and a yield of 3.44%. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio is presently 45.67%.
Royal Bank Of Canada Profile
(
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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