Eudaimonia Partners LLC Sells 393 Shares of Royal Bank of Canada (NYSE:RY)

Eudaimonia Partners LLC lowered its holdings in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,413 shares of the financial services provider’s stock after selling 393 shares during the period. Eudaimonia Partners LLC’s holdings in Royal Bank of Canada were worth $307,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vident Investment Advisory LLC raised its holdings in Royal Bank of Canada by 1.1% in the first quarter. Vident Investment Advisory LLC now owns 9,935 shares of the financial services provider’s stock worth $1,095,000 after buying an additional 105 shares during the last quarter. Glassman Wealth Services raised its holdings in shares of Royal Bank of Canada by 1.6% during the second quarter. Glassman Wealth Services now owns 6,666 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 107 shares during the last quarter. Intercontinental Wealth Advisors LLC raised its holdings in shares of Royal Bank of Canada by 1.7% during the second quarter. Intercontinental Wealth Advisors LLC now owns 6,706 shares of the financial services provider’s stock valued at $649,000 after purchasing an additional 110 shares during the last quarter. Merit Financial Group LLC increased its holdings in Royal Bank of Canada by 1.9% during the third quarter. Merit Financial Group LLC now owns 5,996 shares of the financial services provider’s stock valued at $540,000 after buying an additional 111 shares during the last quarter. Finally, Raymond James Trust N.A. increased its holdings in Royal Bank of Canada by 1.7% during the second quarter. Raymond James Trust N.A. now owns 7,149 shares of the financial services provider’s stock valued at $692,000 after buying an additional 119 shares during the last quarter. Institutional investors own 41.19% of the company’s stock.

Royal Bank of Canada Trading Up 0.1 %

RY stock opened at $100.75 on Tuesday. The company has a market capitalization of $139.62 billion, a PE ratio of 11.72, a P/E/G ratio of 1.77 and a beta of 0.84. Royal Bank of Canada has a 12 month low of $83.63 and a 12 month high of $116.84. The firm’s 50-day moving average is $97.40 and its 200 day moving average is $95.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last posted its quarterly earnings results on Wednesday, November 30th. The financial services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.02 by $0.07. The company had revenue of $9.44 billion for the quarter. Royal Bank of Canada had a net margin of 23.66% and a return on equity of 16.33%. On average, research analysts anticipate that Royal Bank of Canada will post 8.63 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Thursday, January 26th will be issued a dividend of $0.9832 per share. This represents a $3.93 annualized dividend and a yield of 3.90%. The ex-dividend date is Wednesday, January 25th. Royal Bank of Canada’s payout ratio is 43.02%.

Analyst Ratings Changes

A number of analysts have commented on RY shares. National Bank Financial reduced their target price on shares of Royal Bank of Canada from C$148.00 to C$147.00 in a report on Thursday, December 1st. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Thursday, December 1st. Bank of America upgraded shares of Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a research report on Monday, December 12th. Desjardins upped their price target on shares of Royal Bank of Canada from C$140.00 to C$145.00 in a research report on Thursday, December 1st. Finally, Keefe, Bruyette & Woods upgraded shares of Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 1st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average price target of $140.09.

Royal Bank of Canada Profile

(Get Rating)

Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support. The Personal and Commercial Banking segment deals with a broad suite of financial products and services in Canada.

See Also

Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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