Federated Hermes Inc. Sells 4,912 Shares of Royal Bank of Canada (NYSE:RY)

Federated Hermes Inc. lessened its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,253 shares of the financial services provider’s stock after selling 4,912 shares during the period. Federated Hermes Inc.’s holdings in Royal Bank of Canada were worth $8,217,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RY. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Royal Bank of Canada by 3.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 480,825 shares of the financial services provider’s stock valued at $48,863,000 after buying an additional 15,041 shares in the last quarter. Triasima Portfolio Management inc. raised its position in shares of Royal Bank of Canada by 5.5% during the 4th quarter. Triasima Portfolio Management inc. now owns 984,891 shares of the financial services provider’s stock valued at $99,785,000 after buying an additional 50,995 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Royal Bank of Canada by 163.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 160,595 shares of the financial services provider’s stock valued at $16,271,000 after buying an additional 99,523 shares in the last quarter. Addenda Capital Inc. raised its position in shares of Royal Bank of Canada by 2.1% during the 4th quarter. Addenda Capital Inc. now owns 836,019 shares of the financial services provider’s stock valued at $84,547,000 after buying an additional 16,964 shares in the last quarter. Finally, Galibier Capital Management Ltd. raised its position in shares of Royal Bank of Canada by 8,119.3% during the 4th quarter. Galibier Capital Management Ltd. now owns 321,376 shares of the financial services provider’s stock valued at $32,659,000 after buying an additional 317,466 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of RY stock opened at $97.28 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $137.62 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.72 and a beta of 0.86. The company’s 50-day simple moving average is $99.11 and its two-hundred day simple moving average is $94.61. Royal Bank of Canada has a one year low of $77.90 and a one year high of $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. The business had revenue of $9.98 billion for the quarter, compared to the consensus estimate of $10.10 billion. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. As a group, equities analysts anticipate that Royal Bank of Canada will post 8.45 EPS for the current year.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be paid a $1.0207 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 25.31%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Royal Bank of Canada in a research report on Thursday, February 22nd. They set a “hold” rating on the stock. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $140.00 to $150.00 in a research report on Friday, April 5th. Finally, Barclays began coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $137.67.

Royal Bank of Canada Company Profile

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.