Royal Bank Of Canada $RY Holdings Cut by Korea Investment CORP

Key Points

• Korea Investment Corp has reduced its holdings in the Royal Bank of Canada (NYSE:RY) by 0.3%, owning 1,081,746 shares valued at approximately $121.8 million after selling 2,916 shares in the first quarter.
• The Royal Bank of Canada reported an EPS of $2.20 for the last quarter, missing estimates by $0.05, with revenue of $11.38 billion, which was also below analyst expectations.
• Royal Bank of Canada recently declared a quarterly dividend of $1.1152, marking an increase from the previous dividend, with a yield of 3.3% and a payout ratio of 50.33%.

Korea Investment CORP lowered its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,081,746 shares of the financial services provider's stock after selling 2,916 shares during the period. Korea Investment CORP owned about 0.08% of Royal Bank Of Canada worth $121,835,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RY. Brighton Jones LLC lifted its holdings in Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock worth $279,000 after acquiring an additional 575 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of Royal Bank Of Canada by 26.7% in the fourth quarter. Guggenheim Capital LLC now owns 2,687 shares of the financial services provider's stock valued at $324,000 after purchasing an additional 566 shares during the period. NewEdge Advisors LLC increased its stake in shares of Royal Bank Of Canada by 64.5% in the fourth quarter. NewEdge Advisors LLC now owns 7,444 shares of the financial services provider's stock valued at $897,000 after purchasing an additional 2,920 shares during the period. GeoWealth Management LLC increased its stake in shares of Royal Bank Of Canada by 365.7% in the fourth quarter. GeoWealth Management LLC now owns 843 shares of the financial services provider's stock valued at $102,000 after purchasing an additional 662 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Royal Bank Of Canada by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,381 shares of the financial services provider's stock valued at $261,794,000 after purchasing an additional 5,799 shares during the period. Institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Price Performance

NYSE RY opened at $136.47 on Monday. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $137.25. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $191.85 billion, a PE ratio of 15.16, a P/E/G ratio of 1.58 and a beta of 0.89. The company's 50 day simple moving average is $131.01 and its 200 day simple moving average is $122.77.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). The company had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. Royal Bank Of Canada's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.92 EPS. As a group, equities research analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be given a $1.1152 dividend. This represents a $4.46 annualized dividend and a 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 presently 50.33%.

Analysts Set New Price Targets

RY has been the topic of several analyst reports. CIBC restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Wall Street Zen lowered shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. National Bank Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday. Finally, Scotiabank started coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Royal Bank Of Canada currently has an average rating of "Moderate Buy" and an average target price 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.

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