Bank of Nova Scotia Has $2.06 Billion Stock Holdings in Royal Bank Of Canada $RY

Bank of Nova Scotia trimmed its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 16.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,761,696 shares of the financial services provider’s stock after selling 2,471,836 shares during the quarter. Royal Bank Of Canada accounts for approximately 3.4% of Bank of Nova Scotia’s holdings, making the stock its 5th biggest holding. Bank of Nova Scotia owned about 0.91% of Royal Bank Of Canada worth $2,062,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RY. Harvest Fund Management Co. Ltd bought a new position in Royal Bank Of Canada during the 4th quarter valued at approximately $25,000. Tradewinds Capital Management LLC purchased a new position in shares of Royal Bank Of Canada during the fourth quarter valued at approximately $26,000. Key Financial Inc increased its stake in shares of Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after buying an additional 63 shares during the period. Maseco LLP boosted its holdings in Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in Royal Bank Of Canada in the third quarter valued at $27,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Price Performance

Shares of RY opened at $208.40 on Friday. Royal Bank Of Canada has a fifty-two week low of $127.38 and a fifty-two week high of $218.57. The firm’s 50-day simple moving average is $200.41 and its two-hundred day simple moving average is $180.62. The stock has a market cap of $288.97 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same period last year, the business earned $3.12 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. Analysts anticipate that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.

Analyst Upgrades and Downgrades

Several research analysts have commented on RY shares. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings cut Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 29th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

About Royal Bank Of Canada

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.