Knights of Columbus Asset Advisors LLC Sells 30,146 Shares of Royal Bank Of Canada (NYSE:RY)

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in the Royal Bank of Canada by 90.9% during the first quarter, now holding just 3,024 shares valued at approximately $341,000.
• The Royal Bank of Canada reported earnings of $2.20 EPS for the last quarter, below analyst expectations of $2.25, with a revenue of $11.38 billion compared to an estimate of $15.77 billion.
• Royal Bank of Canada announced an increased quarterly dividend of $1.1152 per share, effective for shareholders of record on July 24, representing an annualized yield of 3.38%.

Knights of Columbus Asset Advisors LLC reduced its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 90.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,024 shares of the financial services provider's stock after selling 30,146 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Royal Bank Of Canada were worth $341,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Scotia Capital Inc. boosted its position in Royal Bank Of Canada by 1.9% in the fourth quarter. Scotia Capital Inc. now owns 8,891,023 shares of the financial services provider's stock valued at $1,071,536,000 after buying an additional 169,437 shares in the last quarter. Geode Capital Management LLC boosted its position in Royal Bank Of Canada by 31.2% in the fourth quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock valued at $1,027,061,000 after buying an additional 1,991,364 shares in the last quarter. Invesco Ltd. boosted its position in Royal Bank Of Canada by 4.8% in the fourth quarter. Invesco Ltd. now owns 3,789,560 shares of the financial services provider's stock valued at $456,680,000 after buying an additional 172,829 shares in the last quarter. Franklin Resources Inc. boosted its position in Royal Bank Of Canada by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 2,729,059 shares of the financial services provider's stock valued at $328,632,000 after buying an additional 54,293 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Royal Bank Of Canada by 4.4% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,438,724 shares of the financial services provider's stock valued at $293,895,000 after buying an additional 102,370 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

Shares of RY stock traded up $0.03 during trading hours on Friday, reaching $132.05. 677,666 shares of the company were exchanged, compared to its average volume of 1,244,503. Royal Bank Of Canada has a fifty-two week low of $102.89 and a fifty-two week high of $134.26. The stock's fifty day moving average is $129.56 and its two-hundred day moving average is $121.61. The company has a market cap of $186.26 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 1.51 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). The company had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. Royal Bank Of Canada's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.92 earnings per share. Sell-side 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 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 represents a $4.46 dividend on an annualized basis and a dividend yield of 3.38%. This is an increase 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 payout ratio is 50.33%.

Analyst Upgrades and Downgrades

A number of research firms have commented on RY. Cibc World Mkts upgraded shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Scotiabank began coverage on shares of Royal Bank Of Canada in a research report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. Wall Street Zen lowered shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Finally, CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $193.00.

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.