Guardian Partners Inc. Sells 19,161 Shares of Royal Bank Of Canada $RY

Guardian Partners Inc. reduced its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 398,983 shares of the financial services provider’s stock after selling 19,161 shares during the period. Royal Bank Of Canada comprises about 7.0% of Guardian Partners Inc.’s holdings, making the stock its largest position. Guardian Partners Inc.’s holdings in Royal Bank Of Canada were worth $79,365,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Nova Scotia purchased a new position in Royal Bank Of Canada in the second quarter valued at $2,549,157,000. The Manufacturers Life Insurance Company purchased a new stake in Royal Bank Of Canada during the 2nd quarter worth about $2,296,717,000. Canada Pension Plan Investment Board purchased a new stake in Royal Bank Of Canada during the 2nd quarter worth about $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Royal Bank Of Canada during the 2nd quarter worth about $2,260,820,000. Finally, Legal & General Group Plc acquired a new position in shares of Royal Bank Of Canada during the 2nd quarter worth about $1,645,758,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

NYSE RY traded up $2.91 during trading hours on Wednesday, hitting $201.96. The company had a trading volume of 383,639 shares, compared to its average volume of 1,418,231. The business has a 50 day moving average of $203.03 and a 200-day moving average of $197.14. The company has a market cap of $279.51 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.76 and a beta of 0.80. Royal Bank Of Canada has a 1-year low of $143.38 and a 1-year high of $218.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, August 27th. The financial services provider reported $3.07 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. The business had revenue of $13.22 billion for the quarter, compared to analysts’ expectations of $12.98 billion. As a group, equities research analysts expect that Royal Bank Of Canada will post 11.83 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be paid a dividend of C$1.76 per share. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 43.22%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods initiated coverage on Royal Bank Of Canada in a report on Friday, August 21st. They issued a “market perform” rating on the stock. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 28th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. 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 investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC’s personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.