Gulf International Bank UK Ltd lowered its holdings in Royal Bank of Canada (NYSE:RY – Free Report) (TSE:RY) by 16.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,622 shares of the financial services provider’s stock after selling 1,660 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Royal Bank of Canada were worth $872,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Royal Bank of Canada by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 53,127,219 shares of the financial services provider’s stock valued at $4,645,444,000 after purchasing an additional 717,971 shares during the last quarter. Bank of Nova Scotia increased its position in shares of Royal Bank of Canada by 13.0% during the 3rd quarter. Bank of Nova Scotia now owns 26,666,961 shares of the financial services provider’s stock valued at $2,330,506,000 after purchasing an additional 3,062,038 shares during the last quarter. National Bank of Canada FI increased its position in shares of Royal Bank of Canada by 4.2% during the 3rd quarter. National Bank of Canada FI now owns 19,602,058 shares of the financial services provider’s stock valued at $1,661,862,000 after purchasing an additional 797,146 shares during the last quarter. Norges Bank bought a new position in shares of Royal Bank of Canada during the 4th quarter valued at about $1,583,609,000. Finally, CIBC Asset Management Inc increased its position in shares of Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 12,413,445 shares of the financial services provider’s stock valued at $1,088,176,000 after purchasing an additional 106,757 shares during the last quarter. 42.02% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on RY shares. Barclays started coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They set an “equal weight” rating on the stock. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Jefferies Financial Group started coverage on Royal Bank of Canada in a research report on Thursday, February 22nd. They set a “hold” rating on the stock. Finally, Bank of America upgraded Royal Bank of Canada from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Hold” and a consensus price target of $131.50.
View Our Latest Report on Royal Bank of Canada
Royal Bank of Canada Trading Down 1.5 %
NYSE RY opened at $99.38 on Monday. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $102.07. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50 day simple moving average of $98.28 and a two-hundred day simple moving average of $92.78. The stock has a market cap of $140.59 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.71 and a beta of 0.86.
Royal Bank of Canada (NYSE:RY – Get Free Report) (TSE:RY) last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.05. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. The business had revenue of $9.98 billion during the quarter, compared to analysts’ expectations of $10.10 billion. On average, analysts forecast that Royal Bank of Canada will post 8.5 earnings per share for the current year.
Royal Bank of Canada Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a $1.0207 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Wednesday, April 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.13%.
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.
Further Reading
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