Cumberland Partners Ltd Trims Stock Position in Royal Bank Of Canada $RY

Cumberland Partners Ltd lessened its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.6% during the fourth quarter, Holdings Channel reports. The fund owned 391,226 shares of the financial services provider’s stock after selling 6,484 shares during the period. Royal Bank Of Canada comprises 4.1% of Cumberland Partners Ltd’s holdings, making the stock its 4th biggest holding. Cumberland Partners Ltd’s holdings in Royal Bank Of Canada were worth $66,743,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tradewinds Capital Management LLC bought a new position in Royal Bank Of Canada in the fourth quarter valued at $26,000. Johnson Financial Group Inc. bought a new position in Royal Bank Of Canada in the third quarter valued at $27,000. Highline Wealth Partners LLC increased its stake in Royal Bank Of Canada by 75.4% in the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 89 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in Royal Bank Of Canada by 55.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 88 shares during the last quarter. Finally, Midwest Capital Advisors LLC bought a new position in Royal Bank Of Canada in the fourth quarter valued at $43,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $189.67 on Friday. The company has a 50-day simple moving average of $172.61 and a two-hundred day simple moving average of $166.93. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 12-month low of $124.19 and a 12-month high of $190.36. The firm has a market cap of $265.11 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 1.48 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The business had revenue of $13.18 billion during the quarter, compared to analyst estimates of $12.60 billion. During the same period in the prior year, the business posted $3.62 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts forecast that Royal Bank Of Canada will post 11.53 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.5%. The ex-dividend date was Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio is presently 45.17%.

Analysts Set New Price Targets

A number of research firms recently commented on RY. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, May 4th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Weiss Ratings lowered shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus 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.