Qtron Investments LLC Cuts Position in Royal Bank Of Canada $RY

Qtron Investments LLC cut its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 16.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,135 shares of the financial services provider’s stock after selling 3,690 shares during the quarter. Qtron Investments LLC’s holdings in Royal Bank Of Canada were worth $3,266,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Harvest Fund Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada in the 4th quarter valued at about $25,000. Tradewinds Capital Management LLC purchased a new stake in Royal Bank Of Canada during the 4th quarter worth approximately $26,000. Johnson Financial Group Inc. acquired a new position in shares of Royal Bank Of Canada during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC lifted its holdings in Royal Bank Of Canada by 75.4% in the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in Royal Bank Of Canada by 55.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the topic of several recent analyst reports. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Finally, Argus set a $225.00 price objective on Royal Bank Of Canada in a research report on Thursday. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Price Performance

RY opened at $199.16 on Friday. The company has a 50-day moving average of $181.40 and a 200-day moving average of $171.56. The company has a market capitalization of $276.79 billion, a P/E ratio of 17.89, a PEG ratio of 1.56 and a beta of 0.81. Royal Bank Of Canada has a 1-year low of $126.02 and a 1-year high of $200.05. 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 (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the previous year, the firm earned $3.12 EPS. The company’s revenue was up 11.4% on a year-over-year basis. Equities analysts expect that Royal Bank Of Canada will post 11.52 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.

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.