Montrusco Bolton Investments Inc. Sells 60,945 Shares of Royal Bank Of Canada $RY

Key Points

• Montrusco Bolton Investments sold 60,945 shares of Royal Bank of Canada, reducing its stake by 17.6% to 285,473 shares valued at about $48.73 million, according to its SEC filing.
• Analysts maintain a generally positive view on RY with a consensus rating of "Moderate Buy" (11 Buy, 3 Hold) and a consensus price target of $162.00.
• RBC beat quarterly estimates with $2.94 EPS (vs. $2.81 expected) on $13.18 billion revenue and announced a quarterly dividend of $1.64 ($6.56 annual, ~3.7% yield).

Montrusco Bolton Investments Inc. cut its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 285,473 shares of the financial services provider's stock after selling 60,945 shares during the period. Montrusco Bolton Investments Inc.'s holdings in Royal Bank Of Canada were worth $48,731,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RY. Tradewinds Capital Management LLC acquired a new stake in Royal Bank Of Canada in the fourth quarter valued at approximately $26,000. Johnson Financial Group Inc. acquired a new stake in Royal Bank Of Canada in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC boosted its stake in Royal Bank Of Canada by 75.4% in the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 89 shares in the last quarter. True Wealth Design LLC acquired a new stake in Royal Bank Of Canada in the third quarter valued at approximately $31,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in Royal Bank Of Canada in the third quarter valued at approximately $38,000. 45.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RY shares. Scotiabank restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. Weiss Ratings restated a "buy (b)" rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Zacks Research downgraded shares of 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 reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, February 13th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Royal Bank Of Canada Trading Up 0.3%

NYSE RY opened at $175.46 on Friday. The company has a market capitalization of $245.24 billion, a PE ratio of 16.79, a P/E/G ratio of 1.32 and a beta of 0.78. The company has a fifty day moving average of $167.61 and a 200 day moving average of $162.32. Royal Bank Of Canada has a 1 year low of $116.78 and a 1 year high of $180.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The company had revenue of $13.18 billion during the quarter, compared to analysts' expectations of $12.60 billion. During the same quarter in the previous year, the company earned $3.62 earnings per share. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts forecast that Royal Bank Of Canada will post 11.56 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

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

Royal Bank Of Canada Profile

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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