J. Safra Sarasin Holding AG Cuts Stock Holdings in Royal Bank Of Canada $RY

J. Safra Sarasin Holding AG reduced its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 29.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 399,088 shares of the financial services provider’s stock after selling 169,390 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Royal Bank Of Canada were worth $58,831,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of RY. Toth Financial Advisory Corp purchased a new stake in Royal Bank Of Canada during the 3rd quarter valued at about $29,000. True Wealth Design LLC bought a new stake in Royal Bank Of Canada in the third quarter valued at approximately $31,000. CoreCap Advisors LLC boosted its stake in shares of Royal Bank Of Canada by 103.8% during the third quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 138 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Royal Bank Of Canada by 86.5% in 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 last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Royal Bank Of Canada in the second quarter worth approximately $51,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $167.22 on Tuesday. The company has a 50-day simple moving average of $164.43 and a two-hundred day simple moving average of $149.61. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $233.69 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.22 and a beta of 0.79. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $174.61.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The firm had revenue of $12.27 billion during the quarter, compared to analyst estimates of $12.12 billion. During the same quarter in the prior year, the company earned $3.07 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. On average, analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be given a dividend of $1.64 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, January 26th. Royal Bank Of Canada’s payout ratio is 44.07%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Zacks Research raised shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. TD Cowen raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. Jefferies Financial Group downgraded Royal Bank Of Canada from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, National Bankshares reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company 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.