Royal Bank Of Canada $RY Stake Trimmed by Guardian Partners Inc.

Key Points

• Guardian Partners reduced its Royal Bank of Canada stake by 4.6% in the third quarter, selling 19,161 shares and retaining 398,983 shares valued at approximately $79.4 million. RBC remains the firm’s largest holding, representing about 7% of its portfolio.
• Analysts maintain a generally positive view of RBC, with a consensus rating of “Moderate Buy” and an average price target of $225. The bank also exceeded quarterly earnings and revenue expectations, reporting EPS of $3.07 and revenue of $13.22 billion.
• RBC shares recently rose 1.5% to $201.96, while the bank declared a quarterly dividend of C$1.76, equivalent to an annualized C$7.04 payout and a 3.5% dividend yield.

Guardian Partners Inc. trimmed its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 4.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,983 shares of the financial services provider's stock after selling 19,161 shares during the quarter. Royal Bank Of Canada makes up about 7.0% of Guardian Partners Inc.'s portfolio, making the stock its biggest holding. Guardian Partners Inc.'s holdings in Royal Bank Of Canada were worth $79,365,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RY. BOK Financial Private Wealth Inc. purchased a new position in shares of Royal Bank Of Canada during the 2nd quarter valued at approximately $28,000. Highland Investment Advisors LLC purchased a new stake in shares of Royal Bank Of Canada during the second quarter worth $31,000. Bell Investment Advisors Inc acquired a new stake in shares of Royal Bank Of Canada in the second quarter valued at about $32,000. Continuum Advisory LLC acquired a new stake in shares of Royal Bank Of Canada in the second quarter valued at about $33,000. Finally, Key Financial Inc lifted its stake in shares of Royal Bank Of Canada by 63.0% in the first quarter. Key Financial Inc now owns 163 shares of the financial services provider's stock worth $26,000 after buying an additional 63 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RY has been the subject of a number of recent research reports. TD Securities reaffirmed a "buy" rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods began coverage on shares of Royal Bank Of Canada in a report on Friday, August 21st. They issued a "market perform" rating for the company. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. Finally, Weiss Ratings raised shares of Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $225.00.

Royal Bank Of Canada Stock Up 1.5%

Shares of RY traded up $2.91 during mid-day trading on Wednesday, hitting $201.96. 383,639 shares of the company's stock were exchanged, compared to its average volume of 1,418,231. The stock's 50-day moving average is $203.03 and its 200-day moving average is $197.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. Royal Bank Of Canada has a fifty-two week low of $143.38 and a fifty-two week high of $218.57. The company has a market cap of $279.51 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 1.76 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, beating analysts' consensus estimates of $2.89 by $0.18. The firm had revenue of $13.22 billion during the quarter, compared to analysts' expectations of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be paid a C$1.76 dividend. The ex-dividend date is Monday, October 26th. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. Royal Bank Of Canada's payout ratio is 43.22%.

About Royal Bank Of Canada

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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