Royal Bank Of Canada (NYSE:RY) Shares Sold by Canoe Financial LP

Canoe Financial LP cut its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 12.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,055,670 shares of the financial services provider's stock after selling 146,429 shares during the quarter. Royal Bank Of Canada accounts for about 1.9% of Canoe Financial LP's investment portfolio, making the stock its 24th largest holding. Canoe Financial LP owned about 0.07% of Royal Bank Of Canada worth $118,931,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in shares of Royal Bank Of Canada in the 4th quarter worth about $25,000. WealthTrak Capital Management LLC acquired a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $28,000. Optiver Holding B.V. bought a new stake in shares of Royal Bank Of Canada during the fourth quarter valued at approximately $35,000. Transce3nd LLC acquired a new position in shares of Royal Bank Of Canada during the fourth quarter worth approximately $37,000. Finally, AdvisorNet Financial Inc boosted its position in shares of Royal Bank Of Canada by 93.7% during the first quarter. AdvisorNet Financial Inc now owns 368 shares of the financial services provider's stock worth $41,000 after buying an additional 178 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. 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. 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 reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. Scotiabank initiated coverage on Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating for the company. Finally, National Bank Financial cut 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 issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $193.00.

Royal Bank Of Canada Trading Down 0.7%

Royal Bank Of Canada stock opened at $127.17 on Friday. The firm has a market cap of $179.38 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.47 and a beta of 0.89. Royal Bank Of Canada has a 1 year low of $102.52 and a 1 year high of $130.00. The firm's 50 day moving average price is $123.41 and its two-hundred day moving average price is $120.06. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). The company 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.92 earnings per share. On average, research 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 disclosed 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 represents a $4.46 annualized dividend and a yield of 3.51%. The ex-dividend date is Thursday, July 24th. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's payout ratio is presently 45.67%.

Royal Bank Of Canada Company 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.

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