Lincluden Management Ltd. Sells 16,521 Shares of Royal Bank Of Canada $RY

Lincluden Management Ltd. decreased its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 427,261 shares of the financial services provider’s stock after selling 16,521 shares during the period. Royal Bank Of Canada comprises 7.9% of Lincluden Management Ltd.’s holdings, making the stock its 2nd largest position. Lincluden Management Ltd.’s holdings in Royal Bank Of Canada were worth $72,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in RY. Canerector Inc. lifted its stake in Royal Bank Of Canada by 20,412.0% in the third quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock valued at $1,964,188,000 after buying an additional 13,267,800 shares during the period. Quadrature Capital Ltd increased its holdings in shares of Royal Bank Of Canada by 603.1% in the third quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider’s stock worth $257,183,000 after acquiring an additional 1,498,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Royal Bank Of Canada by 2.0% in the third quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock worth $9,777,472,000 after acquiring an additional 1,329,637 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Royal Bank Of Canada by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 7,296,221 shares of the financial services provider’s stock worth $1,074,879,000 after acquiring an additional 740,276 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Royal Bank Of Canada by 342.7% in the third quarter. Two Sigma Investments LP now owns 543,320 shares of the financial services provider’s stock worth $80,042,000 after acquiring an additional 420,595 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 0.5%

RY stock opened at $177.60 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $167.91 and a two-hundred day moving average price of $163.02. The company has a market cap of $248.23 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.33 and a beta of 0.78. Royal Bank Of Canada has a twelve month low of $117.43 and a twelve month high of $180.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.13. The firm had revenue of $13.18 billion during the quarter, compared to the consensus estimate of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The business’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $3.62 earnings per share. Analysts anticipate that Royal Bank Of Canada will post 11.56 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 45.17%.

Analysts Set New Price Targets

RY has been the subject of several research analyst reports. Raymond James Financial reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Zacks Research downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Company Profile

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.