Cidel Asset Management Inc. Has $107.87 Million Position in Royal Bank Of Canada $RY

Cidel Asset Management Inc. lowered its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 5.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 521,130 shares of the financial services provider’s stock after selling 32,341 shares during the period. Royal Bank Of Canada accounts for approximately 5.2% of Cidel Asset Management Inc.’s portfolio, making the stock its largest position. Cidel Asset Management Inc.’s holdings in Royal Bank Of Canada were worth $107,873,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after buying an additional 575 shares during the last quarter. AQR Capital Management LLC grew its holdings in Royal Bank Of Canada by 60.9% during the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after acquiring an additional 4,460 shares during the period. Sivia Capital Partners LLC grew its holdings in Royal Bank Of Canada by 57.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after acquiring an additional 1,934 shares during the period. Baird Financial Group Inc. raised its position in shares of Royal Bank Of Canada by 39.1% in the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock worth $1,783,000 after acquiring an additional 3,811 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of Royal Bank Of Canada by 9.0% in the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock worth $6,279,000 after acquiring an additional 3,928 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Finally, Keefe, Bruyette & Woods started coverage on shares of Royal Bank Of Canada in a research note on Friday, August 21st. They set a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Stock Performance

Shares of Royal Bank Of Canada stock opened at $208.99 on Wednesday. The business has a 50-day simple moving average of $209.68 and a 200 day simple moving average of $189.86. Royal Bank Of Canada has a one year low of $143.13 and a one year high of $218.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $289.79 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.85 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.18. The business had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. On average, research analysts anticipate that Royal Bank Of Canada will post 12.07 earnings per share for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be paid a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s payout ratio is 44.44%.

About Royal Bank Of Canada

Royal Bank of Canada (RBC) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it is one of Canada’s largest banks and serves individuals, businesses, institutions and governments.

RBC provides personal and commercial banking products, including deposit accounts, mortgages, consumer and business loans, credit cards and payment services. Through its wealth management operations, the company offers investment advice, brokerage, asset management, trust and estate services, and private banking.