Candriam S.C.A. Sells 35,483 Shares of Royal Bank Of Canada $RY

Candriam S.C.A. cut its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 14.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,890 shares of the financial services provider’s stock after selling 35,483 shares during the quarter. Candriam S.C.A.’s holdings in Royal Bank Of Canada were worth $39,954,000 as of its most recent SEC filing.

Other large 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 during the second quarter valued at approximately $2,549,157,000. The Manufacturers Life Insurance Company boosted its position in shares of Royal Bank Of Canada by 2.1% during the first quarter. The Manufacturers Life Insurance Company now owns 12,130,512 shares of the financial services provider’s stock worth $1,959,185,000 after acquiring an additional 250,859 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Royal Bank Of Canada during the second quarter worth $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Royal Bank Of Canada during the second quarter valued at $2,260,820,000. Finally, Legal & General Group Plc purchased a new position in Royal Bank Of Canada during the second quarter valued at $1,645,758,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RY. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Royal Bank Of Canada in a report on Tuesday, October 27th. Finally, TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Price Performance

Shares of Royal Bank Of Canada stock opened at $201.06 on Friday. The stock has a market cap of $278.27 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 1.67 and a beta of 0.79. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average price of $201.46 and a 200-day moving average price of $190.02. Royal Bank Of Canada has a one year low of $143.38 and a one year high of $218.57.

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

Royal Bank Of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be given a dividend of C$1.76 per share. The ex-dividend date is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. Royal Bank Of Canada’s payout ratio is 43.31%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC) is a diversified financial services company founded in 1864 and headquartered in Toronto, Ontario. It provides personal and commercial banking, wealth management, insurance, investor and treasury services, and capital markets services to individuals, businesses, institutions, and governments.

In Canada, RBC offers banking products such as deposit accounts, loans, mortgages, credit cards, and financial advice. Its wealth management and insurance businesses provide investment, advisory, and protection services, while its capital markets operations serve corporate and institutional clients.

RBC serves customers primarily in Canada and the United States, with additional operations and clients in international markets.