Royal Bank Of Canada $RY Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 31,066,800 shares of the financial services provider’s stock after selling 721,350 shares during the quarter. Royal Bank Of Canada comprises approximately 4.3% of TD Asset Management Inc’s investment portfolio, making the stock its biggest position. TD Asset Management Inc’s holdings in Royal Bank Of Canada were worth $5,303,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC acquired a new position in Royal Bank Of Canada in the 4th quarter valued at $26,000. Johnson Financial Group Inc. acquired a new position in Royal Bank Of Canada in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC raised its holdings in Royal Bank Of Canada by 75.4% in the 4th 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 in the last quarter. Cornerstone Planning Group LLC raised its holdings in Royal Bank Of Canada by 55.3% in the 4th 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 in the last quarter. Finally, Midwest Capital Advisors LLC acquired a new position in Royal Bank Of Canada in the 4th quarter valued at $43,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $191.24 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. Royal Bank Of Canada has a 52 week low of $126.02 and a 52 week high of $192.03. The stock has a market capitalization of $267.30 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 1.50 and a beta of 0.81. The stock has a fifty day moving average of $177.06 and a 200-day moving average of $169.51.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The company had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter in the previous year, the firm earned $3.12 EPS. Royal Bank Of Canada’s revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that Royal Bank Of Canada will post 11.52 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, July 27th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is currently 42.41%.

Analyst Upgrades and Downgrades

RY has been the subject of several analyst reports. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Finally, Weiss Ratings raised Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.