Ewing Morris & Co. Investment Partners Ltd. Sells 5,228 Shares of Royal Bank Of Canada $RY

Ewing Morris & Co. Investment Partners Ltd. cut its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 14.9% in the second quarter, HoldingsChannel reports. The firm owned 29,932 shares of the financial services provider’s stock after selling 5,228 shares during the quarter. Royal Bank Of Canada makes up about 3.2% of Ewing Morris & Co. Investment Partners Ltd.’s investment portfolio, making the stock its 9th biggest position. Ewing Morris & Co. Investment Partners Ltd.’s holdings in Royal Bank Of Canada were worth $6,196,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd acquired a new stake in Royal Bank Of Canada in the 4th quarter valued at about $25,000. Key Financial Inc grew its position in shares of Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after buying an additional 63 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Royal Bank Of Canada during the third quarter worth about $27,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Royal Bank Of Canada during the second quarter worth approximately $28,000. Finally, Maseco LLP increased its stake in shares of Royal Bank Of Canada by 355.0% during the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after buying an additional 142 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 2.2%

RY opened at $207.95 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 52 week low of $143.13 and a 52 week high of $218.57. The business’s 50 day moving average is $209.21 and its two-hundred day moving average is $188.71. The firm has a market cap of $288.34 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.79 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.18. The business had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. On average, research analysts predict that Royal Bank Of Canada will post 12.07 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be given a $1.76 dividend. The ex-dividend date is Monday, October 26th. This represents a $7.04 annualized dividend and a yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio is 43.39%.

Analysts Set New Price Targets

RY has been the subject of a number of recent research reports. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods started coverage on shares of Royal Bank Of Canada in a report on Friday, August 21st. They issued a “market perform” rating on the stock. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

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.