Te Ahumairangi Investment Management Ltd Sells 5,700 Shares of Royal Bank Of Canada $RY

Te Ahumairangi Investment Management Ltd lowered its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 18.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 25,510 shares of the financial services provider’s stock after selling 5,700 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Royal Bank Of Canada were worth $3,761,000 at the end of the most recent reporting period.

A number of other hedge funds and 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 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock valued at $9,777,472,000 after purchasing an additional 1,329,637 shares during the last quarter. Norges Bank purchased a new stake in Royal Bank Of Canada in the second quarter worth approximately $2,599,262,000. Canerector Inc. grew its position in Royal Bank Of Canada by 20,412.0% during the third quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock valued at $1,964,188,000 after acquiring an additional 13,267,800 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Royal Bank Of Canada by 20.2% during the second quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock worth $1,517,123,000 after acquiring an additional 1,910,492 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Royal Bank Of Canada by 3.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,147,980 shares of the financial services provider’s stock valued at $1,642,712,000 after purchasing an additional 338,575 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Trading Down 0.1%

Shares of NYSE:RY traded down $0.23 during midday trading on Friday, hitting $162.74. 151,320 shares of the stock traded hands, compared to its average volume of 1,382,275. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $168.95 and its two-hundred day moving average is $157.58. The stock has a market capitalization of $227.46 billion, a PE ratio of 15.58, a P/E/G ratio of 1.24 and a beta of 0.79. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $176.19.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.13. The company had revenue of $13.18 billion for the quarter, compared to analysts’ expectations of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.Royal Bank Of Canada’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $3.62 earnings per share. As a group, research analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio is currently 45.74%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RY. BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Wednesday, December 17th. Zacks Research cut Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Raymond James Financial restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. TD Cowen raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Finally, TD Securities upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

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.