Jones Collombin Investment Counsel Inc lowered its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 168,712 shares of the financial services provider’s stock after selling 1,292 shares during the period. Royal Bank Of Canada makes up about 4.2% of Jones Collombin Investment Counsel Inc’s investment portfolio, making the stock its 6th largest position. Jones Collombin Investment Counsel Inc’s holdings in Royal Bank Of Canada were worth $12,254,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Welch Group LLC purchased a new position in Royal Bank Of Canada during the first quarter worth approximately $101,000. Quadrant Capital Group LLC boosted its position in 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 in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Royal Bank Of Canada during the first quarter worth approximately $123,000. Proficio Capital Partners LLC boosted its position in Royal Bank Of Canada by 125.3% in the first quarter. Proficio Capital Partners LLC now owns 2,098 shares of the financial services provider’s stock worth $145,000 after buying an additional 1,167 shares in the last quarter. Finally, Jolley Asset Management LLC boosted its position in Royal Bank Of Canada by 1.0% in the second quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock worth $176,000 after buying an additional 25 shares in the last quarter. 45.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Royal Bank Of Canada (NYSE RY) opened at 72.89 on Friday. Royal Bank Of Canada has a 12-month low of $60.50 and a 12-month high of $76.01. The company has a market cap of $106.19 billion, a price-to-earnings ratio of 12.45 and a beta of 1.07. The stock has a 50 day moving average of $73.96 and a 200 day moving average of $72.00.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 25th. The financial services provider reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.08. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $6.88 billion. Royal Bank Of Canada had a net margin of 23.16% and a return on equity of 16.69%. During the same quarter last year, the firm posted $1.66 earnings per share. Analysts forecast that Royal Bank Of Canada will post $5.87 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Wednesday, July 26th will be paid a dividend of $0.6439 per share. This represents a $2.58 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Monday, July 24th. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 49.36%.

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RY has been the subject of several research reports. BidaskClub cut shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Canaccord Genuity initiated coverage on shares of Royal Bank Of Canada in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Zacks Investment Research raised shares of Royal Bank Of Canada from a “sell” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Wednesday. Finally, National Bank Financial reissued a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, May 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus 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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