Royal Bank Of Canada (NYSE:RY) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 265,427 shares of the financial services provider's stock after selling 10,296 shares during the period. Allianz Asset Management GmbH's holdings in Royal Bank Of Canada were worth $29,894,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RY. Norges Bank purchased a new stake in Royal Bank Of Canada during the 4th quarter worth approximately $2,425,519,000. Geode Capital Management LLC increased its position in shares of Royal Bank Of Canada by 31.2% in the 4th quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock valued at $1,027,061,000 after purchasing an additional 1,991,364 shares during the last quarter. APG Asset Management N.V. increased its position in shares of Royal Bank Of Canada by 1,600.9% in the 4th quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider's stock valued at $166,084,000 after purchasing an additional 1,343,174 shares during the last quarter. Mufg Securities Canada LTD. increased its position in shares of Royal Bank Of Canada by 72.0% in the 4th quarter. Mufg Securities Canada LTD. now owns 2,160,865 shares of the financial services provider's stock valued at $260,373,000 after purchasing an additional 904,909 shares during the last quarter. Finally, QV Investors Inc. purchased a new stake in shares of Royal Bank Of Canada in the 1st quarter valued at approximately $51,164,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RY shares. Cibc World Mkts raised shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Scotiabank assumed coverage on shares of Royal Bank Of Canada in a research report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. National Bank Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Finally, CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. 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 assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $193.00.

Royal Bank Of Canada Stock Performance

NYSE:RY traded up $0.03 during trading hours on Friday, reaching $132.05. 677,666 shares of the company's stock were exchanged, compared to its average volume of 1,247,192. The firm has a market capitalization of $186.26 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 1.51 and a beta of 0.89. The company has a 50-day moving average of $129.56 and a 200 day moving average of $121.61. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 1-year low of $102.89 and a 1-year high of $134.26.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. During the same quarter in the prior year, the company earned $2.92 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders 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 3.38%. The ex-dividend date is Thursday, July 24th. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's dividend payout ratio (DPR) is 50.22%.

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.