Royal Bank Of Canada $RY Shares Sold by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc decreased its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 15.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,577 shares of the financial services provider’s stock after selling 22,973 shares during the period. Royal Bank Of Canada comprises about 3.3% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 3rd largest holding. K.J. Harrison & Partners Inc’s holdings in Royal Bank Of Canada were worth $20,260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of RY. Norges Bank bought a new position in shares of Royal Bank Of Canada in the 4th quarter worth about $3,472,382,000. Alberta Investment Management Corp bought a new stake in shares of Royal Bank Of Canada during the 4th quarter valued at about $324,237,000. Quadrature Capital Ltd raised its stake in Royal Bank Of Canada by 603.1% during the third quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider’s stock worth $257,183,000 after acquiring an additional 1,498,000 shares during the period. Vanguard Group Inc. lifted its holdings in Royal Bank Of Canada by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock worth $11,529,165,000 after acquiring an additional 1,290,142 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Royal Bank Of Canada by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock worth $2,389,773,000 after acquiring an additional 882,253 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RY has been the subject of several recent research reports. Argus set a $225.00 target price on Royal Bank Of Canada in a report on Thursday, June 11th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings cut Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Performance

Shares of NYSE RY opened at $204.64 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $191.45 and a 200-day simple moving average of $176.46. The company has a market cap of $284.39 billion, a PE ratio of 18.39, a P/E/G ratio of 1.62 and a beta of 0.80. Royal Bank Of Canada has a 12-month low of $127.38 and a 12-month high of $209.37.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. Royal Bank Of Canada’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $3.12 EPS. On average, equities research analysts forecast that Royal Bank Of Canada will post 11.45 EPS for the current year.

Royal Bank Of Canada Increases Dividend

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

Royal Bank Of Canada 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.