Raymond James Trust N.A. decreased its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,404 shares of the financial services provider’s stock after selling 64 shares during the quarter. Raymond James Trust N.A.’s holdings in Royal Bank Of Canada were worth $536,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. TD Asset Management Inc. increased its holdings in Royal Bank Of Canada by 1.5% during the 2nd quarter. TD Asset Management Inc. now owns 41,292,901 shares of the financial services provider’s stock worth $2,993,842,000 after purchasing an additional 594,708 shares during the period. FMR LLC increased its holdings in Royal Bank Of Canada by 1.9% during the 1st quarter. FMR LLC now owns 32,153,083 shares of the financial services provider’s stock worth $2,342,604,000 after purchasing an additional 596,315 shares during the period. Vanguard Group Inc. increased its holdings in Royal Bank Of Canada by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 31,678,190 shares of the financial services provider’s stock worth $2,309,657,000 after purchasing an additional 1,402,437 shares during the period. Bank of Nova Scotia increased its holdings in Royal Bank Of Canada by 0.9% during the 1st quarter. Bank of Nova Scotia now owns 26,959,386 shares of the financial services provider’s stock worth $1,964,276,000 after purchasing an additional 235,793 shares during the period. Finally, Mawer Investment Management Ltd. increased its holdings in Royal Bank Of Canada by 3.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 5,070,749 shares of the financial services provider’s stock worth $645,212,000 after purchasing an additional 171,588 shares during the period. Institutional investors own 40.65% of the company’s stock.

Several equities research analysts have weighed in on RY shares. Zacks Investment Research upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Thursday, June 1st. BidaskClub upgraded Royal Bank Of Canada from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Canaccord Genuity started coverage on Royal Bank Of Canada in a report on Tuesday, July 18th. They set a “hold” rating on the stock. Howard Weil downgraded Royal Bank Of Canada to a “sector perform” rating in a report on Monday, August 21st. Finally, Scotiabank downgraded Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report on Monday, August 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Royal Bank Of Canada has an average rating of “Hold” and an average price target of $80.00.

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Royal Bank Of Canada (NYSE:RY) opened at 75.50 on Friday. Royal Bank Of Canada has a 52-week low of $60.57 and a 52-week high of $76.01. The stock’s 50 day moving average price is $74.22 and its 200 day moving average price is $72.16. The firm has a market capitalization of $110.08 billion, a PE ratio of 12.91 and a beta of 1.05.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.01). Royal Bank Of Canada had a return on equity of 16.63% and a net margin of 22.98%. The business had revenue of $7.43 billion for the quarter, compared to analysts’ expectations of $7.11 billion. During the same period in the previous year, the firm posted $1.72 earnings per share. Analysts expect that Royal Bank Of Canada will post $6.19 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, October 26th will be given a dividend of $0.724 per share. This represents a $2.90 dividend on an annualized basis and a dividend yield of 3.84%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $0.64. The ex-dividend date is Wednesday, October 25th. Royal Bank Of Canada’s payout ratio is presently 48.55%.

Royal Bank Of Canada 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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