Massachusetts Financial Services Co. MA Sells 171,389 Shares of Royal Bank Of Canada $RY

Massachusetts Financial Services Co. MA decreased its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,404,933 shares of the financial services provider’s stock after selling 171,389 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.17% of Royal Bank Of Canada worth $354,295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in RY. Toth Financial Advisory Corp bought a new stake in shares of Royal Bank Of Canada in the third quarter worth $29,000. True Wealth Design LLC bought a new stake in Royal Bank Of Canada in the 3rd quarter valued at $31,000. CoreCap Advisors LLC boosted its holdings in shares of Royal Bank Of Canada by 103.8% during the 3rd quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock worth $40,000 after buying an additional 138 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Royal Bank Of Canada by 86.5% during the second quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 180 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Royal Bank Of Canada during the second quarter worth $51,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $169.14 on Monday. The stock has a 50-day moving average price of $161.90 and a 200-day moving average price of $148.08. The company has a market cap of $236.38 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.21 and a beta of 0.79. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $174.61. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. The business had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $12.12 billion. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the business earned $3.07 earnings per share. As a group, equities analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, January 26th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 44.07%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RY shares. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. Wall Street Zen upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Raymond James Financial started coverage on Royal Bank Of Canada in a research note on Monday, November 24th. They issued a “moderate buy” rating on the stock. Erste Group Bank upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. Finally, UBS Group restated a “buy” rating on shares of Royal Bank Of Canada in a report on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.