Mufg Securities Canada LTD. Sells 189,003 Shares of Royal Bank Of Canada $RY

Mufg Securities Canada LTD. lessened its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 8.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,137,220 shares of the financial services provider’s stock after selling 189,003 shares during the period. Royal Bank Of Canada accounts for about 10.1% of Mufg Securities Canada LTD.’s portfolio, making the stock its largest position. Mufg Securities Canada LTD.’s holdings in Royal Bank Of Canada were worth $364,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC lifted its position in shares of Royal Bank Of Canada by 18.5% during the 4th quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock valued at $16,407,000 after acquiring an additional 15,046 shares during the period. Rathbones Group PLC lifted its position in shares of Royal Bank Of Canada by 9.0% during the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock valued at $55,480,000 after acquiring an additional 26,782 shares during the period. Fisher Asset Management LLC increased its stake in Royal Bank Of Canada by 6.1% during the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock valued at $1,086,601,000 after purchasing an additional 368,534 shares in the last quarter. Legal & General Group Plc increased its stake in Royal Bank Of Canada by 3.6% during the 3rd quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock valued at $1,219,924,000 after purchasing an additional 287,504 shares in the last quarter. Finally, Caprock Group LLC bought a new stake in Royal Bank Of Canada during the 3rd quarter valued at $1,463,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a research note on Thursday. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $199.58 on Monday. Royal Bank Of Canada has a 1 year low of $126.02 and a 1 year high of $201.74. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $277.37 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.57 and a beta of 0.81. The company has a fifty day moving average price of $182.12 and a 200-day moving average price of $171.91.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The firm had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same quarter in the prior year, the business posted $3.12 EPS. The business’s revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts predict that Royal Bank Of Canada will post 11.52 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 42.41%.

About Royal Bank Of Canada

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.