Envestnet Asset Management Inc. reduced its position in Royal Bank of Canada (NYSE:RY – Free Report) (TSE:RY) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 212,343 shares of the financial services provider’s stock after selling 4,948 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Royal Bank of Canada were worth $18,567,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in the company. Fiera Capital Corp increased its holdings in Royal Bank of Canada by 4.9% in the 3rd quarter. Fiera Capital Corp now owns 4,375,864 shares of the financial services provider’s stock valued at $383,474,000 after purchasing an additional 205,658 shares in the last quarter. Prospera Financial Services Inc increased its holdings in Royal Bank of Canada by 48.1% in the 2nd quarter. Prospera Financial Services Inc now owns 16,344 shares of the financial services provider’s stock valued at $1,561,000 after purchasing an additional 5,305 shares in the last quarter. Geode Capital Management LLC increased its holdings in Royal Bank of Canada by 6.3% in the 2nd quarter. Geode Capital Management LLC now owns 4,836,985 shares of the financial services provider’s stock valued at $464,175,000 after purchasing an additional 285,500 shares in the last quarter. Korea Investment CORP increased its holdings in Royal Bank of Canada by 12.6% in the 2nd quarter. Korea Investment CORP now owns 1,271,209 shares of the financial services provider’s stock valued at $121,611,000 after purchasing an additional 142,033 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in Royal Bank of Canada by 4.2% in the 3rd quarter. National Bank of Canada FI now owns 19,602,058 shares of the financial services provider’s stock valued at $1,661,862,000 after purchasing an additional 797,146 shares in the last quarter. 42.02% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
RY has been the subject of several recent analyst reports. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Jefferies Financial Group initiated coverage on Royal Bank of Canada in a research note on Thursday, February 22nd. They set a “hold” rating for the company. Finally, Bank of America upgraded Royal Bank of Canada from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $131.50.
Read Our Latest Analysis on RY
Royal Bank of Canada Stock Down 0.7 %
Shares of Royal Bank of Canada stock opened at $97.95 on Tuesday. The company has a market capitalization of $137.99 billion, a PE ratio of 12.57, a P/E/G ratio of 1.77 and a beta of 0.87. Royal Bank of Canada has a 1-year low of $77.90 and a 1-year high of $102.49. The business has a 50-day moving average of $98.90 and a 200-day moving average of $91.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.87.
Royal Bank of Canada (NYSE:RY – Get Free Report) (TSE:RY) last posted its quarterly earnings results on Thursday, November 30th. The financial services provider reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.13. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.63 billion. Royal Bank of Canada had a return on equity of 15.21% and a net margin of 12.59%. During the same period last year, the firm earned $2.09 earnings per share. As a group, equities analysts forecast that Royal Bank of Canada will post 8.49 EPS for the current fiscal year.
Royal Bank of Canada Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Thursday, January 25th were paid a $1.0155 dividend. The ex-dividend date was Wednesday, January 24th. This represents a $4.06 dividend on an annualized basis and a yield of 4.15%. Royal Bank of Canada’s dividend payout ratio (DPR) is 51.09%.
About Royal Bank of Canada
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.
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