Royal Bank Of Canada $RY Shares Sold by Summit Global Investments

Summit Global Investments decreased its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 75.6% in the third quarter, HoldingsChannel.com reports. The firm owned 4,163 shares of the financial services provider’s stock after selling 12,870 shares during the quarter. Summit Global Investments’ holdings in Royal Bank Of Canada were worth $613,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Toth Financial Advisory Corp acquired a new position in shares of Royal Bank Of Canada during the 3rd quarter worth approximately $29,000. True Wealth Design LLC purchased a new stake in Royal Bank Of Canada in the 3rd quarter worth $31,000. CoreCap Advisors LLC raised its position in Royal Bank Of Canada by 103.8% during the third quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 138 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Royal Bank Of Canada by 86.5% during the second quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 180 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Royal Bank Of Canada during the second quarter valued at $51,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Shares of Royal Bank Of Canada stock opened at $166.22 on Friday. The business’s 50 day moving average price is $165.94 and its 200 day moving average price is $150.49. The company has a market cap of $232.29 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.20 and a beta of 0.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $174.61.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The company had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $12.12 billion. During the same period in the prior year, the business earned $3.07 EPS. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. On average, research analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be given a dividend of $1.64 per share. The ex-dividend date is Monday, January 26th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 annualized dividend and a yield of 3.9%. Royal Bank Of Canada’s dividend payout ratio (DPR) is 47.66%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. TD Cowen upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Zacks Research raised Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. TD Securities raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Wednesday, December 17th. Finally, Wall Street Zen upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $162.00.

Royal Bank Of Canada Company 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.