Bank of Nova Scotia Sells 205,069 Shares of Royal Bank Of Canada $RY

Bank of Nova Scotia decreased its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,597,145 shares of the financial services provider’s stock after selling 205,069 shares during the period. Royal Bank Of Canada accounts for 4.5% of Bank of Nova Scotia’s investment portfolio, making the stock its 4th largest holding. Bank of Nova Scotia owned about 1.18% of Royal Bank Of Canada worth $2,186,595,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Royal Bank Of Canada in the 2nd quarter valued at about $2,599,262,000. Fisher Asset Management LLC lifted its stake in Royal Bank Of Canada by 1,218.0% in the second quarter. Fisher Asset Management LLC now owns 5,723,581 shares of the financial services provider’s stock valued at $752,937,000 after buying an additional 5,289,330 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings 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 acquiring an additional 3,990,839 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Royal Bank Of Canada by 104.6% in the first quarter. Canada Pension Plan Investment Board now owns 6,346,768 shares of the financial services provider’s stock valued at $715,043,000 after acquiring an additional 3,244,266 shares during the period. Finally, Picton Mahoney Asset Management purchased a new position in shares of Royal Bank Of Canada during the second quarter worth approximately $329,983,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Jefferies Financial Group lowered Royal Bank Of Canada from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Raymond James Financial assumed coverage on Royal Bank Of Canada in a report on Monday, November 24th. They set a “moderate buy” rating for the company. Erste Group Bank upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Monday, September 22nd. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $162.48 on Monday. The stock has a market capitalization of $227.58 billion, a P/E ratio of 16.20, a P/E/G ratio of 1.18 and a beta of 0.80. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $162.96. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50-day moving average is $148.39 and its two-hundred day moving average is $139.50.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. The business had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $12.12 billion. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the company earned $3.07 earnings per share. Equities analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Monday, January 26th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, January 26th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.0%. Royal Bank Of Canada’s dividend payout ratio is presently 44.07%.

Royal Bank Of Canada 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.