Royal Bank Of Canada (NYSE:RY) is Summerhill Capital Management lnc.'s 6th Largest Position

Summerhill Capital Management lnc. cut its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 3.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,580 shares of the financial services provider's stock after selling 2,242 shares during the quarter. Royal Bank Of Canada accounts for about 8.4% of Summerhill Capital Management lnc.'s portfolio, making the stock its 6th largest holding. Summerhill Capital Management lnc.'s holdings in Royal Bank Of Canada were worth $6,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Royal Bank Of Canada during the fourth quarter valued at approximately $2,425,519,000. Geode Capital Management LLC grew its stake in shares of Royal Bank Of Canada by 31.2% during the 4th quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock worth $1,027,061,000 after purchasing an additional 1,991,364 shares during the period. APG Asset Management N.V. grew its stake in shares of Royal Bank Of Canada by 1,600.9% during the 4th quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider's stock worth $166,084,000 after purchasing an additional 1,343,174 shares during the period. Vanguard Group Inc. increased its holdings in shares of Royal Bank Of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock valued at $7,136,056,000 after purchasing an additional 1,104,975 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Royal Bank Of Canada by 9.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock valued at $1,338,156,000 after purchasing an additional 921,276 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Down 0.4%

RY traded down $0.56 during trading hours on Friday, hitting $129.61. 731,471 shares of the company's stock were exchanged, compared to its average volume of 1,144,549. The firm has a market cap of $182.82 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.49 and a beta of 0.89. Royal Bank Of Canada has a 12-month low of $102.89 and a 12-month high of $130.96. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $124.71 and a 200 day moving average of $120.14.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings results 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). The business had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The business's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.92 EPS. Analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current fiscal 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 issued a dividend of $1.1152 per share. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 annualized dividend and a yield of 3.44%. Royal Bank Of Canada's dividend payout ratio is 45.67%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen lowered shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Cibc World Mkts upgraded Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. CIBC reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. Finally, National Bank Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Royal Bank Of Canada presently has a consensus rating of "Moderate Buy" and an average price target 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.