Cumberland Partners Ltd raised its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 10.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 345,394 shares of the financial services provider’s stock after buying an additional 32,715 shares during the period. Royal Bank Of Canada comprises 3.5% of Cumberland Partners Ltd’s portfolio, making the stock its 8th largest position. Cumberland Partners Ltd’s holdings in Royal Bank Of Canada were worth $25,049,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Welch Group LLC acquired a new position in shares of Royal Bank Of Canada during the first quarter worth $101,000. Quadrant Capital Group LLC raised its position in shares of Royal Bank Of Canada by 12.9% in the first quarter. Quadrant Capital Group LLC now owns 1,644 shares of the financial services provider’s stock worth $108,000 after buying an additional 188 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Royal Bank Of Canada during the first quarter worth $123,000. Proficio Capital Partners LLC raised its position in shares of Royal Bank Of Canada by 125.3% in the first quarter. Proficio Capital Partners LLC now owns 2,098 shares of the financial services provider’s stock worth $145,000 after buying an additional 1,167 shares during the period. Finally, Jolley Asset Management LLC raised its position in shares of Royal Bank Of Canada by 1.0% in the second quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock worth $176,000 after buying an additional 25 shares during the period. 45.67% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada (RY) opened at 72.89 on Friday. The company has a market capitalization of $106.19 billion, a P/E ratio of 12.45 and a beta of 1.07. The company’s 50 day moving average price is $73.96 and its 200-day moving average price is $72.00. Royal Bank Of Canada has a 52 week low of $60.50 and a 52 week high of $76.01.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 25th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.08. Royal Bank Of Canada had a return on equity of 16.69% and a net margin of 23.16%. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $6.88 billion. During the same period last year, the business posted $1.66 earnings per share. Equities research analysts expect that Royal Bank Of Canada will post $5.87 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Wednesday, July 26th will be given a dividend of $0.6439 per share. This represents a $2.58 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Monday, July 24th. Royal Bank Of Canada’s dividend payout ratio is currently 49.36%.

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A number of equities analysts have weighed in on the company. BidaskClub lowered Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Canaccord Genuity assumed coverage on Royal Bank Of Canada in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Zacks Investment Research raised Royal Bank Of Canada from a “sell” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Wednesday. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, May 18th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $85.63.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

Institutional Ownership by Quarter for Royal Bank Of Canada (NYSE:RY)

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