Rathbones Group PLC Reduces Holdings in Royal Bank Of Canada (NYSE:RY)

Key Points

• Rathbones Group PLC has reduced its holdings in the Royal Bank of Canada by 1.3%, selling 3,203 shares and now owning 248,013 shares worth approximately $27.93 million.
• The Royal Bank of Canada recently announced a quarterly dividend increase to $1.1152 per share, up from $1.03, representing a 3.3% yield.
• Royal Bank of Canada reported a missed earnings consensus for its last quarter, with EPS at $2.20 compared to an expected $2.25, while revenue also fell short of estimates.

Rathbones Group PLC trimmed its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 248,013 shares of the financial services provider's stock after selling 3,203 shares during the period. Rathbones Group PLC's holdings in Royal Bank Of Canada were worth $27,933,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Baskin Financial Services Inc. raised its holdings in shares of Royal Bank Of Canada by 5.0% in the first quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider's stock valued at $7,079,000 after buying an additional 3,006 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Royal Bank Of Canada by 1.1% in the first quarter. Envestnet Asset Management Inc. now owns 341,776 shares of the financial services provider's stock valued at $38,525,000 after buying an additional 3,767 shares during the last quarter. Capital Investment Counsel Inc raised its holdings in shares of Royal Bank Of Canada by 24.4% in the first quarter. Capital Investment Counsel Inc now owns 10,146 shares of the financial services provider's stock valued at $1,144,000 after buying an additional 1,989 shares during the last quarter. Unigestion Holding SA raised its holdings in shares of Royal Bank Of Canada by 48.7% in the first quarter. Unigestion Holding SA now owns 210,566 shares of the financial services provider's stock valued at $23,705,000 after buying an additional 68,939 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in shares of Royal Bank Of Canada by 68.1% in the first quarter. Diversified Trust Co now owns 79,642 shares of the financial services provider's stock valued at $8,977,000 after buying an additional 32,255 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Up 0.6%

RY stock opened at $133.41 on Tuesday. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $134.26. The stock has a market capitalization of $187.55 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The company has a fifty day moving average of $130.33 and a 200-day moving average of $122.41.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced 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 net margin of 13.37% and a return on equity of 15.75%. The company had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. During the same quarter last year, the business earned $2.92 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, 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 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 annualized dividend and a dividend yield of 3.3%. 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. Royal Bank Of Canada's dividend payout ratio (DPR) is 50.33%.

Analyst Upgrades and Downgrades

RY has been the subject of a number of research reports. National Bank Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. CIBC restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. 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. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. Finally, Scotiabank started coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Royal Bank Of Canada currently has a consensus rating of "Moderate Buy" and an average price target of $193.00.

About Royal Bank Of Canada

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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