Royal Bank Of Canada $RY Stake Decreased by Rempart Asset Management Inc.

Rempart Asset Management Inc. reduced its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 7.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 200,912 shares of the financial services provider’s stock after selling 15,669 shares during the period. Royal Bank Of Canada makes up 6.5% of Rempart Asset Management Inc.’s investment portfolio, making the stock its biggest position. Rempart Asset Management Inc.’s holdings in Royal Bank Of Canada were worth $34,271,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new stake in shares of Royal Bank Of Canada in the 3rd quarter valued at about $27,000. Toth Financial Advisory Corp bought a new position in Royal Bank Of Canada during the 3rd quarter worth approximately $29,000. True Wealth Design LLC bought a new position in Royal Bank Of Canada during the 3rd quarter worth approximately $31,000. Atlantic Union Bankshares Corp purchased a new position in Royal Bank Of Canada in the 3rd quarter worth approximately $38,000. Finally, CoreCap Advisors LLC lifted its position in Royal Bank Of Canada by 103.8% in the third quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 138 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Price Performance

RY opened at $162.48 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $176.19. The stock has a market capitalization of $227.10 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.22 and a beta of 0.79. The stock’s 50 day moving average price is $167.52 and its 200-day moving average price is $158.84.

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

Royal Bank Of Canada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 45.74%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RY shares. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Finally, TD Cowen raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.