Blue Trust Inc. Lowers Stock Holdings in Royal Bank Of Canada $RY

Blue Trust Inc. decreased its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 79.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,182 shares of the financial services provider’s stock after selling 12,056 shares during the quarter. Blue Trust Inc.’s holdings in Royal Bank Of Canada were worth $515,000 as of its most recent SEC filing.

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

Royal Bank Of Canada Stock Down 0.4%

Shares of NYSE:RY opened at $203.00 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 0.82. Royal Bank Of Canada has a 1 year low of $127.38 and a 1 year high of $204.82. The stock has a market capitalization of $282.12 billion, a P/E ratio of 18.24, a PEG ratio of 1.61 and a beta of 0.81. The stock has a 50-day simple moving average of $188.63 and a 200-day simple moving average of $175.03.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. Royal Bank Of Canada’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.12 earnings per share. Equities analysts forecast that Royal Bank Of Canada will post 11.45 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a $1.76 dividend. The ex-dividend date of this dividend is Monday, July 27th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 42.41%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RY shares. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Finally, Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and an average price target of $225.00.

About Royal Bank Of Canada

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.