O Shaughnessy Asset Management LLC decreased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 42.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 253,056 shares of the financial services provider’s stock after selling 186,441 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Royal Bank of Canada were worth $20,080,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. First Citizens Bank & Trust Co. purchased a new stake in Royal Bank of Canada in the 2nd quarter valued at $328,000. Rathbone Brothers plc raised its position in Royal Bank of Canada by 0.6% in the 2nd quarter. Rathbone Brothers plc now owns 238,595 shares of the financial services provider’s stock valued at $17,954,000 after buying an additional 1,360 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Royal Bank of Canada in the 2nd quarter valued at $12,219,000. Nippon Life Global Investors Americas Inc. raised its position in Royal Bank of Canada by 98.5% in the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 83,510 shares of the financial services provider’s stock valued at $6,288,000 after buying an additional 41,440 shares during the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new stake in Royal Bank of Canada in the 2nd quarter valued at $154,000. 40.06% of the stock is currently owned by institutional investors.
A number of research firms recently commented on RY. Zacks Investment Research lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Friday. ValuEngine lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Scotia Howard Weill raised Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, September 10th. Scotiabank upgraded Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 10th. Finally, Howard Weil upgraded Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, September 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Royal Bank of Canada presently has a consensus rating of “Hold” and a consensus price target of $97.20.
Shares of NYSE:RY opened at $72.61 on Friday. The firm has a market capitalization of $105.48 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.13. Royal Bank of Canada has a 1 year low of $71.01 and a 1 year high of $87.10.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, August 22nd. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.39 billion. Royal Bank of Canada had a return on equity of 18.11% and a net margin of 21.48%. On average, equities analysts forecast that Royal Bank of Canada will post 6.52 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Thursday, October 25th will be paid a $0.753 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Wednesday, October 24th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.73. Royal Bank of Canada’s dividend payout ratio is 50.17%.
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Royal Bank of Canada Profile
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.
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