Royal Bank Of Canada $RY Shares Sold by Davis Rea LTD.

Davis Rea LTD. trimmed its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,402 shares of the financial services provider’s stock after selling 4,441 shares during the quarter. Royal Bank Of Canada makes up 3.1% of Davis Rea LTD.’s portfolio, making the stock its 11th biggest position. Davis Rea LTD.’s holdings in Royal Bank Of Canada were worth $12,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Royal Bank Of Canada by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 65,008,684 shares of the financial services provider’s stock valued at $8,567,752,000 after purchasing an additional 2,437,164 shares in the last quarter. TD Asset Management Inc increased its holdings in Royal Bank Of Canada by 0.9% in the second quarter. TD Asset Management Inc now owns 31,812,382 shares of the financial services provider’s stock valued at $4,184,220,000 after buying an additional 296,978 shares during the last quarter. Norges Bank acquired a new stake in Royal Bank Of Canada during the second quarter valued at approximately $2,599,262,000. Geode Capital Management LLC lifted its holdings in Royal Bank Of Canada by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock worth $1,517,123,000 after buying an additional 1,910,492 shares during the last quarter. Finally, Scotia Capital Inc. grew its position in shares of Royal Bank Of Canada by 1.6% in the 2nd quarter. Scotia Capital Inc. now owns 9,065,967 shares of the financial services provider’s stock worth $1,191,770,000 after acquiring an additional 141,761 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 0.4%

Shares of NYSE:RY opened at $169.24 on Friday. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $174.61. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The company has a market cap of $237.02 billion, a PE ratio of 16.87, a P/E/G ratio of 1.21 and a beta of 0.79. The company’s 50-day moving average price is $161.42 and its 200 day moving average price is $147.59.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, beating the consensus estimate of $2.51 by $0.25. The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $12.12 billion. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. Royal Bank Of Canada’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business earned $3.07 earnings per share. Sell-side analysts anticipate 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. Shareholders of record on Monday, January 26th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, January 26th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 44.07%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Erste Group Bank raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Monday, September 22nd. TD Securities raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.