Banque Pictet & Cie SA Decreases Holdings in Royal Bank of Canada (NYSE:RY)

Banque Pictet & Cie SA trimmed its position in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 72.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,020 shares of the financial services provider’s stock after selling 7,862 shares during the period. Banque Pictet & Cie SA’s holdings in Royal Bank of Canada were worth $333,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. 1832 Asset Management L.P. grew its position in Royal Bank of Canada by 1.4% during the 4th quarter. 1832 Asset Management L.P. now owns 17,771,974 shares of the financial services provider’s stock worth $1,890,293,000 after acquiring an additional 249,205 shares during the last quarter. Norges Bank bought a new position in Royal Bank of Canada during the 4th quarter worth approximately $1,635,969,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Royal Bank of Canada by 9.1% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 6,932,690 shares of the financial services provider’s stock worth $736,334,000 after acquiring an additional 577,839 shares during the last quarter. JPMorgan Chase & Co. grew its position in Royal Bank of Canada by 2.5% during the 4th quarter. JPMorgan Chase & Co. now owns 5,028,019 shares of the financial services provider’s stock worth $533,673,000 after acquiring an additional 120,571 shares during the last quarter. Finally, Alberta Investment Management Corp grew its position in Royal Bank of Canada by 38.4% during the 4th quarter. Alberta Investment Management Corp now owns 4,159,663 shares of the financial services provider’s stock worth $442,097,000 after acquiring an additional 1,154,200 shares during the last quarter. 41.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RY. BMO Capital Markets reduced their price target on Royal Bank of Canada from C$142.00 to C$140.00 in a research report on Friday, May 27th. Scotiabank cut their price objective on Royal Bank of Canada from C$150.00 to C$147.00 in a research report on Friday, May 20th. National Bank Financial lifted their price objective on Royal Bank of Canada from C$147.00 to C$148.00 in a research report on Friday, May 27th. Argus lifted their price objective on Royal Bank of Canada from $121.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 6th. Finally, TD Securities cut their price objective on Royal Bank of Canada from C$150.00 to C$145.00 in a research report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $143.84.

Royal Bank of Canada Trading Up 1.0 %

RY opened at $97.51 on Friday. The stock has a market cap of $135.98 billion, a PE ratio of 10.67, a PEG ratio of 2.11 and a beta of 0.90. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average of $98.42 and a 200-day moving average of $105.37. Royal Bank of Canada has a 52 week low of $90.75 and a 52 week high of $119.41.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last announced its quarterly earnings data on Thursday, May 26th. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.28. The business had revenue of $8.86 billion during the quarter. Royal Bank of Canada had a return on equity of 17.97% and a net margin of 28.54%. Equities research analysts predict that Royal Bank of Canada will post 8.86 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Tuesday, July 26th will be paid a dividend of $0.995 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, July 25th. This represents a $3.98 dividend on an annualized basis and a yield of 4.08%. Royal Bank of Canada’s payout ratio is presently 43.54%.

Royal Bank of Canada Profile

(Get Rating)

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

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

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