Te Ahumairangi Investment Management Ltd Sells 5,700 Shares of Royal Bank Of Canada $RY

Te Ahumairangi Investment Management Ltd reduced its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 18.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,510 shares of the financial services provider’s stock after selling 5,700 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Royal Bank Of Canada were worth $3,761,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Royal Bank Of Canada by 1.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock valued at $713,000 after buying an additional 74 shares during the last quarter. Advisory Resource Group raised its stake in Royal Bank Of Canada by 0.8% in the 3rd quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider’s stock valued at $1,342,000 after acquiring an additional 75 shares during the period. Ballentine Partners LLC lifted its holdings in Royal Bank Of Canada by 1.5% during the third quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock valued at $759,000 after purchasing an additional 75 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in Royal Bank Of Canada by 2.4% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 3,396 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 80 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position in Royal Bank Of Canada by 2.6% during the third quarter. Benjamin Edwards Inc. now owns 3,247 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 81 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Price Performance

NYSE:RY traded down $0.23 during trading hours on Friday, hitting $162.74. 151,320 shares of the company’s stock traded hands, compared to its average volume of 1,382,275. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $176.19. The business’s fifty day simple moving average is $168.95 and its two-hundred day simple moving average is $157.58. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.09. The firm has a market cap of $227.46 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.24 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.13. The business had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.62 EPS. On average, research analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 45.74%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Raymond James Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Thursday, January 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Finally, National Bank Financial reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, December 4th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Royal Bank Of Canada Company 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.