Royal Bank Of Canada (NYSE:RY) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd has reduced its stake in the Royal Bank of Canada by 6.5%, selling 2,570 shares, resulting in a total of 37,223 shares valued at approximately $4,185,000.
• The Royal Bank of Canada has recently declared a quarterly dividend of $1.1152, up from the previous $1.03, reflecting an annualized yield of 3.38%.
• Royal Bank of Canada's latest quarterly earnings report indicated an EPS of $2.20, missing expectations, with revenue reported at $11.38 billion compared to analyst estimates of $15.77 billion.

Mediolanum International Funds Ltd trimmed its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,223 shares of the financial services provider's stock after selling 2,570 shares during the period. Mediolanum International Funds Ltd's holdings in Royal Bank Of Canada were worth $4,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Royal Bank Of Canada by 4.5% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 197,991 shares of the financial services provider's stock worth $22,332,000 after purchasing an additional 8,600 shares during the period. Stevens Capital Management LP purchased a new stake in shares of Royal Bank Of Canada in the 1st quarter worth approximately $252,000. Cetera Investment Advisers lifted its position in shares of Royal Bank Of Canada by 9.9% in the 1st quarter. Cetera Investment Advisers now owns 44,605 shares of the financial services provider's stock worth $5,028,000 after purchasing an additional 4,022 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of Royal Bank Of Canada by 3.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 10,439 shares of the financial services provider's stock worth $1,177,000 after purchasing an additional 342 shares during the period. Finally, Davis Rea LTD. lifted its position in shares of Royal Bank Of Canada by 396.5% in the 1st quarter. Davis Rea LTD. now owns 92,431 shares of the financial services provider's stock worth $10,416,000 after purchasing an additional 73,813 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Down 1.2%

Shares of NYSE RY traded down $1.58 during trading hours on Monday, hitting $130.47. 589,900 shares of the stock were exchanged, compared to its average volume of 1,244,503. 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 company has a market cap of $184.04 billion, a PE ratio of 14.50, a PEG ratio of 1.51 and a beta of 0.89. The firm has a fifty day moving average price of $129.63 and a 200-day moving average price of $121.70. Royal Bank Of Canada has a 12 month low of $102.89 and a 12 month high of $134.26.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 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 the consensus estimate of $15.77 billion. During the same quarter last year, the firm earned $2.92 EPS. The company's revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders 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 is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a yield of 3.42%. Royal Bank Of Canada's dividend payout ratio is presently 50.33%.

Wall Street Analyst Weigh In

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

Royal Bank Of Canada 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.