CLARET ASSET MANAGEMENT Corp lessened its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 117,228 shares of the financial services provider’s stock after selling 6,773 shares during the quarter. Royal Bank of Canada makes up 2.0% of CLARET ASSET MANAGEMENT Corp’s portfolio, making the stock its 14th largest holding. CLARET ASSET MANAGEMENT Corp’s holdings in Royal Bank of Canada were worth $9,513,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Coastal Capital Group Inc. bought a new position in Royal Bank of Canada in the 2nd quarter worth about $28,000. Meridian Wealth Management LLC bought a new position in Royal Bank of Canada in the 1st quarter worth about $30,000. Capital Advisors Ltd. LLC bought a new position in Royal Bank of Canada in the 2nd quarter worth about $32,000. Boston Partners bought a new position in Royal Bank of Canada in the 2nd quarter worth about $50,000. Finally, Winslow Evans & Crocker Inc. grew its position in Royal Bank of Canada by 34.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 806 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 206 shares during the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on RY shares. Scotiabank restated a “buy” rating on shares of Royal Bank of Canada in a research report on Tuesday, August 20th. Zacks Investment Research cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a report on Wednesday, August 21st. Finally, ValuEngine cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $100.50.
Shares of Royal Bank of Canada stock traded up $1.32 on Friday, hitting $80.88. The company had a trading volume of 50,486 shares, compared to its average volume of 1,168,442. The business has a 50-day simple moving average of $77.96 and a 200-day simple moving average of $78.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $112.48 billion, a PE ratio of 12.39, a PEG ratio of 2.07 and a beta of 1.12. Royal Bank of Canada has a 52 week low of $65.76 and a 52 week high of $81.61.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 21st. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.04). Royal Bank of Canada had a net margin of 19.66% and a return on equity of 17.18%. The company had revenue of $11.54 billion during the quarter, compared to the consensus estimate of $11.56 billion. During the same quarter last year, the business earned $2.10 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts predict that Royal Bank of Canada will post 6.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be paid a dividend of $0.796 per share. The ex-dividend date is Wednesday, October 23rd. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.76. This represents a $3.18 annualized dividend and a yield of 3.94%. Royal Bank of Canada’s dividend payout ratio is currently 47.78%.
About Royal Bank of Canada
Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.
See Also: What is Blockchain?
Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank of Canada (NYSE:RY) (TSE:RY).
Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.