Royal Bank of Canada Sells 475,701 Shares of Barclays PLC $BCS

Key Points

• The Royal Bank of Canada has reduced its stake in Barclays PLC by 8.6% in the first quarter, holding 5,034,283 shares worth approximately $77.33 million after selling 475,701 shares.
• Barclays reported a net margin of 22.11% and earnings per share of $0.62, exceeding analyst expectations of $0.50, with revenue reaching $9.58 billion for the quarter.
• The company announced a semi-annual dividend of $0.1557 per share, resulting in a yield of 210.0% and a payout ratio of 14.29%.

Royal Bank of Canada lowered its position in Barclays PLC (NYSE:BCS - Free Report) by 8.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,034,283 shares of the financial services provider's stock after selling 475,701 shares during the period. Royal Bank of Canada owned 0.14% of Barclays worth $77,328,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. acquired a new stake in shares of Barclays during the 1st quarter worth approximately $29,000. Elequin Capital LP acquired a new position in Barclays during the first quarter worth approximately $30,000. Wealthquest Corp purchased a new position in shares of Barclays in the first quarter valued at $32,000. Zions Bancorporation National Association UT bought a new position in shares of Barclays in the 1st quarter worth about $40,000. Finally, WPG Advisers LLC acquired a new position in Barclays during the 1st quarter valued at about $40,000. 3.39% of the stock is owned by institutional investors.

Barclays Stock Performance

Shares of NYSE BCS traded up $0.21 during midday trading on Monday, reaching $19.92. 8,319,410 shares of the company were exchanged, compared to its average volume of 16,691,764. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 5.70. The stock has a fifty day simple moving average of $19.44 and a 200 day simple moving average of $17.34. Barclays PLC has a 1 year low of $11.22 and a 1 year high of $20.58. The stock has a market cap of $70.31 billion, a P/E ratio of 9.19, a PEG ratio of 0.42 and a beta of 1.14.

Barclays (NYSE:BCS - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.12. The business had revenue of $9.58 billion for the quarter, compared to analyst estimates of $7.06 billion. Barclays had a net margin of 22.11% and a return on equity of 8.49%. On average, research analysts forecast that Barclays PLC will post 2 earnings per share for the current fiscal year.

Barclays Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 8th will be issued a $0.1557 dividend. The ex-dividend date is Friday, August 8th. This represents a yield of 210.0%. Barclays's dividend payout ratio (DPR) is 14.29%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BCS. Wall Street Zen cut shares of Barclays from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Morgan Stanley reissued an "overweight" rating on shares of Barclays in a research note on Tuesday, September 2nd. Royal Bank Of Canada reissued an "outperform" rating on shares of Barclays in a research report on Wednesday, July 16th. Finally, Citigroup downgraded Barclays from a "buy" rating to a "neutral" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy".

Barclays Profile

Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International division segments. It offers financial services, such as retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services.