Royal Bank Of Canada $RY Shares Sold by Fiera Capital Corp

Key Points

• Fiera Capital Corp cut its Royal Bank of Canada stake by 6.5% in the fourth quarter, selling 315,109 shares and still holding 4.54 million shares valued at about $774.1 million.
• Wall Street sentiment remains positive overall, with Royal Bank of Canada carrying a Moderate Buy rating and an average price target of $162.00, though one firm recently downgraded the stock to market perform.
• The bank reported better-than-expected quarterly earnings of $2.84 per share and raised its dividend to $1.76 per share quarterly, implying a 3.6% annual yield.

Fiera Capital Corp lowered its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,539,315 shares of the financial services provider's stock after selling 315,109 shares during the quarter. Royal Bank Of Canada makes up about 2.5% of Fiera Capital Corp's investment portfolio, making the stock its 7th largest holding. Fiera Capital Corp owned approximately 0.32% of Royal Bank Of Canada worth $774,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in RY. Brighton Jones LLC grew its position in shares of Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock worth $279,000 after buying an additional 575 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Royal Bank Of Canada by 60.9% in the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider's stock worth $1,321,000 after purchasing an additional 4,460 shares during the period. Sivia Capital Partners LLC boosted its holdings in Royal Bank Of Canada by 57.7% in the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider's stock worth $695,000 after purchasing an additional 1,934 shares during the period. Baird Financial Group Inc. boosted its holdings in Royal Bank Of Canada by 39.1% in the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider's stock worth $1,783,000 after purchasing an additional 3,811 shares during the period. Finally, Cerity Partners LLC boosted its holdings in Royal Bank Of Canada by 9.0% in the second quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider's stock worth $6,279,000 after purchasing an additional 3,928 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RY shares. TD Securities reaffirmed a "buy" rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Finally, Weiss Ratings raised shares of Royal Bank Of Canada from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, June 1st. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $162.00.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $194.25 on Monday. Royal Bank Of Canada has a 1 year low of $126.02 and a 1 year high of $195.53. The company has a market cap of $269.96 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a fifty day moving average of $178.35 and a 200-day moving average of $170.19.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the previous year, the company posted $3.12 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be issued a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 3.6%. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada's dividend payout ratio is presently 42.41%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada NYSE: RY is a diversified financial services company and one of Canada's largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.