Royal Bank Of Canada $RY Stock Sold by Value Partners Investments Inc.

Key Points

• Value Partners Investments cut its Royal Bank of Canada stake by 12% in the third quarter, selling 27,308 shares and retaining 201,068 shares valued at approximately $39.7 million.
• RBC reported quarterly earnings of $3.07 per share, beating estimates of $2.89, while revenue of $13.22 billion also exceeded expectations.
• The bank declared a quarterly dividend of C$1.76, equivalent to an annualized C$7.04 payout and a 3.6% yield. Analysts maintain a “Moderate Buy” consensus with a $225 price target.

Value Partners Investments Inc. reduced its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 12.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 201,068 shares of the financial services provider's stock after selling 27,308 shares during the quarter. Royal Bank Of Canada makes up about 2.7% of Value Partners Investments Inc.'s portfolio, making the stock its 19th biggest holding. Value Partners Investments Inc.'s holdings in Royal Bank Of Canada were worth $39,672,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Gold Investment Management Ltd. raised its stake in Royal Bank Of Canada by 0.4% in the 3rd quarter. Gold Investment Management Ltd. now owns 47,427 shares of the financial services provider's stock valued at $9,329,000 after acquiring an additional 185 shares during the period. LexAurum Advisors LLC lifted its holdings in Royal Bank Of Canada by 52.4% during the 3rd quarter. LexAurum Advisors LLC now owns 3,690 shares of the financial services provider's stock valued at $725,000 after purchasing an additional 1,268 shares during the last quarter. New England Research & Management Inc. lifted its holdings in Royal Bank Of Canada by 2.1% during the 3rd quarter. New England Research & Management Inc. now owns 7,250 shares of the financial services provider's stock valued at $1,425,000 after purchasing an additional 150 shares during the last quarter. Vontobel Holding Ltd. boosted its position in Royal Bank Of Canada by 3.4% during the third quarter. Vontobel Holding Ltd. now owns 98,592 shares of the financial services provider's stock worth $19,395,000 after purchasing an additional 3,262 shares during the period. Finally, Financial & Tax Architects LLC boosted its position in Royal Bank Of Canada by 14.1% during the third quarter. Financial & Tax Architects LLC now owns 3,455 shares of the financial services provider's stock worth $679,000 after purchasing an additional 428 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Performance

RY traded down $1.32 during trading on Monday, hitting $196.48. The stock had a trading volume of 2,216,068 shares, compared to its average volume of 1,420,247. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50 day moving average price of $203.26 and a 200-day moving average price of $196.89. Royal Bank Of Canada has a one year low of $143.38 and a one year high of $218.57. The firm has a market cap of $271.92 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 1.77 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share 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 firm had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $12.98 billion. As a group, research analysts predict that Royal Bank Of Canada will post 11.83 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors 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 3.6%. Royal Bank Of Canada's dividend payout ratio is 43.39%.

Analyst Upgrades and Downgrades

RY has been the topic of several research reports. 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 on the stock. Weiss Ratings raised shares of Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, July 29th. Scotiabank restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. TD Securities reaffirmed a "buy" rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Finally, Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $225.00.

Royal Bank Of Canada 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.

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.