Royal Bank Of Canada $RY Shares Sold by Viewpoint Investment Partners Corp

Key Points

• Viewpoint Investment Partners reduced its Royal Bank of Canada stake by 17.3% in the third quarter, selling 7,382 shares and retaining 35,166 shares worth approximately $6.9 million. Institutional investors own 45.31% of the stock.
• Royal Bank of Canada reported quarterly EPS of $3.07, exceeding analysts’ $2.89 estimate, while revenue reached $13.22 billion. Shares opened at $202.77, compared with a 52-week range of $143.38 to $218.57.
• The bank declared a quarterly dividend of C$1.76, equivalent to an annualized C$7.04 payout and a 3.5% yield. Analysts maintain a consensus “Moderate Buy” rating with a $225 target price.

Viewpoint Investment Partners Corp lessened its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 17.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,166 shares of the financial services provider's stock after selling 7,382 shares during the quarter. Royal Bank Of Canada accounts for 2.2% of Viewpoint Investment Partners Corp's investment portfolio, making the stock its 7th biggest position. Viewpoint Investment Partners Corp's holdings in Royal Bank Of Canada were worth $6,902,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Roxbury Financial LLC grew its stake in shares of Royal Bank Of Canada by 12.8% during the third quarter. Roxbury Financial LLC now owns 501 shares of the financial services provider's stock valued at $98,000 after buying an additional 57 shares during the last quarter. Echo45 Advisors LLC lifted its stake in shares of Royal Bank Of Canada by 5.0% in the 3rd quarter. Echo45 Advisors LLC now owns 1,308 shares of the financial services provider's stock valued at $257,000 after acquiring an additional 62 shares during the last quarter. Key Financial Inc lifted its stake in shares of Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 63 shares during the last quarter. Apella Capital LLC boosted its holdings in Royal Bank Of Canada by 3.1% during the 2nd quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider's stock valued at $451,000 after acquiring an additional 64 shares during the period. Finally, Cornerstone Financial Management LLC boosted its holdings in Royal Bank Of Canada by 45.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 212 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 66 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Stock Performance

Royal Bank Of Canada stock opened at $202.77 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $202.35 and a 200-day moving average of $188.27. The firm has a market cap of $280.62 billion, a P/E ratio of 17.74, a P/E/G ratio of 1.80 and a beta of 0.80. Royal Bank Of Canada has a 1-year low of $143.38 and a 1-year high of $218.57.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. The company had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $12.98 billion. Sell-side analysts expect that Royal Bank Of Canada will post 11.83 EPS for the current year.

Royal Bank Of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be issued a C$1.76 dividend. The ex-dividend date is Monday, October 26th. This represents a $7.04 annualized dividend and a yield of 3.5%. Royal Bank Of Canada's dividend payout ratio (DPR) is 43.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RY shares. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. TD Securities restated a "buy" rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Royal Bank Of Canada in a report on Friday, August 21st. They set a "market perform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada NYSE: RY is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC's personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.

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