Lincluden Management Ltd. Sells 16,521 Shares of Royal Bank Of Canada $RY

Key Points

• Lincluden Management trimmed its stake in Royal Bank Of Canada (RY) by 3.7%, selling 16,521 shares and leaving it with 427,261 shares worth $72.84 million, making RY 7.9% of Lincluden’s portfolio and its second-largest holding.
• Earnings beat: RBC reported Q results of $2.94 EPS vs. $2.81 expected and revenue of $13.18 billion (vs. $12.60B est.), with ROE of 17.12% and revenue up 4.4% year-over-year.
• Dividend announced: RBC declared a quarterly dividend of $1.64 (annualized $6.56) with an ex-dividend date of April 23 and payment on May 22, implying a yield of about 3.7% and a payout ratio near 45.2%.

Lincluden Management Ltd. cut its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 427,261 shares of the financial services provider's stock after selling 16,521 shares during the quarter. Royal Bank Of Canada makes up 7.9% of Lincluden Management Ltd.'s portfolio, making the stock its 2nd largest position. Lincluden Management Ltd.'s holdings in Royal Bank Of Canada were worth $72,844,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Canerector Inc. grew its holdings in Royal Bank Of Canada by 20,412.0% during the 3rd quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider's stock worth $1,964,188,000 after acquiring an additional 13,267,800 shares during the last quarter. Quadrature Capital Ltd grew its holdings in Royal Bank Of Canada by 603.1% during the 3rd quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider's stock worth $257,183,000 after acquiring an additional 1,498,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in Royal Bank Of Canada by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider's stock worth $9,777,472,000 after acquiring an additional 1,329,637 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Royal Bank Of Canada by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider's stock worth $1,074,879,000 after acquiring an additional 740,276 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in Royal Bank Of Canada by 342.7% during the 3rd quarter. Two Sigma Investments LP now owns 543,320 shares of the financial services provider's stock worth $80,042,000 after acquiring an additional 420,595 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Trading Up 0.5%

NYSE:RY opened at $177.60 on Wednesday. Royal Bank Of Canada has a 1-year low of $117.43 and a 1-year high of $180.81. The business's 50-day moving average price is $167.91 and its two-hundred day moving average price is $163.02. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $248.23 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.33 and a beta of 0.78.

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. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The firm had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. During the same quarter in the prior year, the firm posted $3.62 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts expect that Royal Bank Of Canada will post 11.56 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RY shares. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Weiss Ratings reissued a "buy (b)" rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Zacks Research lowered Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 3rd. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, February 13th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $162.00.

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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