Royal Bank Of Canada $RY Shares Sold by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its holdings in Royal Bank Of Canada by 2.4%, equating to a total of 310,480 shares valued at approximately $34.97 million at the end of the reporting period.
• The company recently announced an increase in its quarterly dividend to $1.54 per share, up from $1.12, which represents a 4.2% yield.
• Royal Bank Of Canada reported earnings per share of $2.20 for the last quarter, missing estimates by $0.05, with revenue of $11.38 billion, compared to estimates of $15.77 billion.

Lansforsakringar Fondforvaltning AB publ reduced its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,480 shares of the financial services provider's stock after selling 7,679 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Royal Bank Of Canada were worth $34,969,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of Royal Bank Of Canada by 129.9% in the first quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider's stock valued at $796,227,000 after purchasing an additional 3,990,839 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Royal Bank Of Canada by 5.7% in the first quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock valued at $7,048,307,000 after purchasing an additional 3,387,971 shares during the last quarter. Bank of Nova Scotia grew its holdings in Royal Bank Of Canada by 8.0% during the 1st quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock valued at $1,892,975,000 after buying an additional 1,249,589 shares during the last quarter. Nuveen LLC acquired a new stake in Royal Bank Of Canada during the 1st quarter valued at $114,327,000. Finally, Ameriprise Financial Inc. grew its holdings in Royal Bank Of Canada by 299.7% during the 1st quarter. Ameriprise Financial Inc. now owns 841,497 shares of the financial services provider's stock valued at $99,930,000 after buying an additional 630,969 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Trading Down 0.3%

RY traded down $0.43 during trading on Friday, hitting $145.42. 858,667 shares of the company's stock were exchanged, compared to its average volume of 1,155,505. The stock has a 50 day moving average price of $133.28 and a 200 day moving average price of $124.16. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $147.64. The firm has a market cap of $204.35 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.64 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $2.36 by $0.43. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The company had revenue of $12.26 billion for the quarter, compared to analyst estimates of $16.03 billion. During the same period last year, the company posted $3.26 earnings per share. The firm's revenue was up 16.1% compared to the same quarter last year. As a group, analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Analyst Ratings Changes

RY has been the topic of a number of analyst reports. National Bank Financial cut Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. BMO Capital Markets reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday. National Bankshares reissued a "sector perform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research note on Thursday. Finally, Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $177.50.

About Royal Bank Of Canada

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.