43,050 Royal Bank Of Canada $RY Shares Sold by QV Investors Inc.

QV Investors Inc. decreased its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 13.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,499 shares of the financial services provider’s stock after selling 43,050 shares during the quarter. Royal Bank Of Canada accounts for approximately 4.1% of QV Investors Inc.’s holdings, making the stock its 5th largest position. QV Investors Inc.’s holdings in Royal Bank Of Canada were worth $55,899,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Bank of Nova Scotia bought a new stake in shares of Royal Bank Of Canada in the 2nd quarter valued at approximately $2,549,157,000. The Manufacturers Life Insurance Company bought a new position in Royal Bank Of Canada during the second quarter worth $2,296,717,000. Canada Pension Plan Investment Board bought a new position in Royal Bank Of Canada during the second quarter worth $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Royal Bank Of Canada during the second quarter worth $2,260,820,000. Finally, Legal & General Group Plc bought a new position in Royal Bank Of Canada during the second quarter worth $1,645,758,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $199.22 on Wednesday. The company has a market cap of $275.71 billion, a P/E ratio of 16.91, a PEG ratio of 1.76 and a beta of 0.80. The business has a 50 day moving average of $203.03 and a two-hundred day moving average of $197.14. Royal Bank Of Canada has a 52 week low of $143.38 and a 52 week high of $218.57. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.18. The business had revenue of $13.22 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. As a group, analysts anticipate that Royal Bank Of Canada will post 11.83 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be paid a dividend of C$1.76 per share. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s dividend payout ratio is presently 43.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods began coverage on shares of Royal Bank Of Canada in a report on Friday, August 21st. They set a “market perform” rating on the stock. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Finally, TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank Of Canada has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC’s personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.