Stratos Wealth Partners LTD. reduced its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 3,762 shares of the financial services provider’s stock after selling 112 shares during the period. Stratos Wealth Partners LTD.’s holdings in Royal Bank Of Canada were worth $273,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RY. Quadrant Capital Group LLC raised its stake in shares of Royal Bank Of Canada by 12.9% in the first quarter. Quadrant Capital Group LLC now owns 1,644 shares of the financial services provider’s stock worth $108,000 after buying an additional 188 shares during the last quarter. Gradient Investments LLC raised its stake in shares of Royal Bank Of Canada by 15,795.5% in the first quarter. Gradient Investments LLC now owns 3,497 shares of the financial services provider’s stock worth $255,000 after buying an additional 3,475 shares during the last quarter. Barometer Capital Management Inc. raised its stake in shares of Royal Bank Of Canada by 2.9% in the first quarter. Barometer Capital Management Inc. now owns 419,628 shares of the financial services provider’s stock worth $30,595,000 after buying an additional 11,832 shares during the last quarter. Trust Department MB Financial Bank N A raised its stake in shares of Royal Bank Of Canada by 1.1% in the first quarter. Trust Department MB Financial Bank N A now owns 13,953 shares of the financial services provider’s stock worth $1,017,000 after buying an additional 153 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of Royal Bank Of Canada by 7.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 100,230 shares of the financial services provider’s stock worth $7,282,000 after buying an additional 6,577 shares during the last quarter. 45.67% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada (RY) opened at 72.89 on Friday. The firm’s 50-day moving average price is $73.96 and its 200-day moving average price is $72.00. The firm has a market cap of $106.19 billion, a P/E ratio of 12.45 and a beta of 1.07. Royal Bank Of Canada has a 1-year low of $60.50 and a 1-year high of $76.01.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 25th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.08. Royal Bank Of Canada had a net margin of 23.16% and a return on equity of 16.69%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $6.88 billion. During the same period in the prior year, the firm earned $1.66 earnings per share. Equities research analysts anticipate that Royal Bank Of Canada will post $5.87 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Wednesday, July 26th will be paid a $0.6439 dividend. This represents a $2.58 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Monday, July 24th. Royal Bank Of Canada’s payout ratio is currently 49.36%.

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A number of analysts recently commented on RY shares. Zacks Investment Research lowered Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, May 18th. BidaskClub raised Royal Bank Of Canada from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Finally, Canaccord Genuity started coverage on Royal Bank Of Canada in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $85.63.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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Institutional Ownership by Quarter for Royal Bank Of Canada (NYSE:RY)

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