Russell Investments Group Ltd. Has $83.01 Million Holdings in Royal Bank Of Canada (NYSE:RY)

Key Points

• Russell Investments Group Ltd. has reduced its stake in the Royal Bank of Canada by 11.7%, owning approximately 737,907 shares after selling 97,485 shares in the first quarter.
• Royal Bank of Canada reported earnings of $2.20 per share for the last quarter, missing analysts' expectations by $0.05, while revenue was $11.38 billion, significantly lower than the forecasted $15.77 billion.
• The bank has announced an increase in its quarterly dividend to $1.1152 per share, representing a 3.3% yield and an annualized dividend of $4.46.

Russell Investments Group Ltd. reduced its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 11.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 737,907 shares of the financial services provider's stock after selling 97,485 shares during the quarter. Russell Investments Group Ltd. owned 0.05% of Royal Bank Of Canada worth $83,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RY. Brighton Jones LLC increased its stake in Royal Bank Of Canada by 33.1% in the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after buying an additional 575 shares during the last quarter. Townsquare Capital LLC boosted its holdings in Royal Bank Of Canada by 10.2% in the 4th quarter. Townsquare Capital LLC now owns 22,082 shares of the financial services provider's stock valued at $2,661,000 after purchasing an additional 2,052 shares during the period. Sagespring Wealth Partners LLC bought a new stake in Royal Bank Of Canada in the 4th quarter valued at about $317,000. Seeds Investor LLC bought a new stake in Royal Bank Of Canada in the 4th quarter valued at about $206,000. Finally, Savvy Advisors Inc. bought a new stake in shares of Royal Bank Of Canada during the 4th quarter worth approximately $315,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

RY stock traded up $0.58 during trading on Thursday, reaching $136.49. 1,349,310 shares of the company were exchanged, compared to its average volume of 1,336,066. The company has a 50-day moving average of $130.83 and a two-hundred day moving average of $122.68. The company has a market capitalization of $191.87 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 1.55 and a beta of 0.89. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $136.59. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The business had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. During the same quarter last year, the company posted $2.92 earnings per share. The company's revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be given a $1.1152 dividend. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date is Thursday, July 24th. This represents a $4.46 annualized dividend and a yield of 3.3%. Royal Bank Of Canada's dividend payout ratio is currently 50.33%.

Analyst Upgrades and Downgrades

RY has been the subject of a number of recent analyst reports. National Bank Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Wall Street Zen downgraded shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. Scotiabank initiated coverage on shares of Royal Bank Of Canada in a research report on Thursday, May 15th. They set a "sector outperform" rating for the company. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $193.00.

Royal Bank Of Canada Company Profile

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.