Royal Bank Of Canada $RY Stake Cut by Brown Shipley& Co Ltd

Brown Shipley& Co Ltd trimmed its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 88.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,265 shares of the financial services provider’s stock after selling 9,385 shares during the quarter. Brown Shipley& Co Ltd’s holdings in Royal Bank Of Canada were worth $249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BOK Financial Private Wealth Inc. bought a new position in Royal Bank Of Canada in the 2nd quarter worth about $28,000. Highland Investment Advisors LLC bought a new position in Royal Bank Of Canada in the 2nd quarter worth $31,000. Bell Investment Advisors Inc bought a new position in shares of Royal Bank Of Canada during the 2nd quarter valued at about $32,000. Continuum Advisory LLC bought a new position in shares of Royal Bank Of Canada during the 2nd quarter valued at approximately $33,000. Finally, Key Financial Inc grew its stake in shares of Royal Bank Of Canada by 63.0% in the 1st 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. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

RY has been the subject of a number of recent analyst reports. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. Keefe, Bruyette & Woods began coverage on shares of Royal Bank Of Canada in a research note on Friday, August 21st. They issued a “market perform” rating for the company. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. Finally, Canadian Imperial Bank of Commerce reaffirmed 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 issued 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 an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Stock Performance

Shares of RY stock traded up $0.71 during trading hours on Friday, hitting $191.27. The stock had a trading volume of 219,269 shares, compared to its average volume of 1,427,572. Royal Bank Of Canada has a twelve month low of $143.13 and a twelve month high of $218.57. The stock’s 50 day moving average is $205.43 and its 200 day moving average is $195.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $264.72 billion, a PE ratio of 16.74, a PEG ratio of 1.71 and a beta of 0.80.

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

Royal Bank Of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be issued a dividend of C$1.76 per share. The ex-dividend date is Monday, October 26th. This represents a $7.04 annualized dividend and a dividend yield of 3.7%. Royal Bank Of Canada’s payout ratio is presently 44.44%.

Royal Bank Of Canada Profile

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 serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.