William Blair Investment Management LLC cut its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,200 shares of the financial services provider’s stock after selling 5,172 shares during the period. William Blair Investment Management LLC’s holdings in Royal Bank Of Canada were worth $3,350,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Investment Management of Virginia LLC increased its stake in Royal Bank Of Canada by 0.9% in the second quarter. Investment Management of Virginia LLC now owns 13,506 shares of the financial services provider’s stock worth $979,000 after buying an additional 121 shares during the last quarter. BB&T Securities LLC increased its stake in Royal Bank Of Canada by 33.3% in the second quarter. BB&T Securities LLC now owns 14,874 shares of the financial services provider’s stock worth $1,078,000 after buying an additional 3,714 shares during the last quarter. Blair William & Co. IL increased its stake in Royal Bank Of Canada by 3.9% in the second quarter. Blair William & Co. IL now owns 10,688 shares of the financial services provider’s stock worth $775,000 after buying an additional 400 shares during the last quarter. Addenda Capital Inc. increased its stake in Royal Bank Of Canada by 4.9% in the second quarter. Addenda Capital Inc. now owns 1,383,893 shares of the financial services provider’s stock worth $100,337,000 after buying an additional 64,529 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC increased its stake in Royal Bank Of Canada by 159.6% in the second quarter. Douglass Winthrop Advisors LLC now owns 12,200 shares of the financial services provider’s stock worth $885,000 after buying an additional 7,500 shares during the last quarter. Institutional investors and hedge funds own 45.67% of the company’s stock.

Royal Bank Of Canada (NYSE:RY) opened at 74.76 on Friday. The stock has a 50 day moving average of $74.31 and a 200 day moving average of $72.13. Royal Bank Of Canada has a 52-week low of $60.50 and a 52-week high of $76.01. The stock has a market capitalization of $109.00 billion, a P/E ratio of 12.97 and a beta of 1.07.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.42 by $0.01. Royal Bank Of Canada had a net margin of 22.98% and a return on equity of 16.63%. The company had revenue of $7.43 billion during the quarter, compared to the consensus estimate of $7.11 billion. During the same quarter in the previous year, the company earned $1.72 earnings per share. On average, equities research analysts forecast that Royal Bank Of Canada will post $6.00 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be issued a $0.724 dividend. The ex-dividend date is Wednesday, October 25th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $0.64. This represents a $2.90 annualized dividend and a yield of 3.87%. Royal Bank Of Canada’s dividend payout ratio is presently 48.55%.

ILLEGAL ACTIVITY WARNING: This article was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another website, it was illegally stolen and reposted in violation of international trademark & copyright laws. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/08/27/william-blair-investment-management-llc-reduces-stake-in-royal-bank-of-canada-ry.html.

A number of research firms recently commented on RY. Scotiabank downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report on Monday, August 21st. Howard Weil downgraded shares of Royal Bank Of Canada to a “sector perform” rating in a report on Monday, August 21st. BidaskClub upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Zacks Investment Research upgraded shares of Royal Bank Of Canada from a “sell” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Wednesday, August 9th. Finally, Canaccord Genuity began coverage on shares of Royal Bank Of Canada in a report on Tuesday, July 18th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $85.00.

About Royal Bank Of Canada

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.

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).

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

Receive News & Stock 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 stocks with our FREE daily email newsletter.