Royal Bank Of Canada $RY Shares Sold by Turn8 Private Wealth Inc.

Turn8 Private Wealth Inc. reduced its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 12.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 27,931 shares of the financial services provider’s stock after selling 3,825 shares during the quarter. Royal Bank Of Canada makes up 3.4% of Turn8 Private Wealth Inc.’s portfolio, making the stock its 9th biggest holding. Turn8 Private Wealth Inc.’s holdings in Royal Bank Of Canada were worth $4,764,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RY. Norges Bank acquired a new stake in Royal Bank Of Canada during the fourth quarter worth about $3,472,382,000. Canerector Inc. increased its position in shares of Royal Bank Of Canada by 20,412.0% during 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 acquiring an additional 13,267,800 shares during the last quarter. Quadrature Capital Ltd increased its position in shares of Royal Bank Of Canada by 603.1% during the third quarter. Quadrature Capital Ltd now owns 1,746,400 shares of the financial services provider’s stock valued at $257,183,000 after acquiring an additional 1,498,000 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Royal Bank Of Canada by 2.0% during the third quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock valued at $9,777,472,000 after acquiring an additional 1,329,637 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Royal Bank Of Canada by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock valued at $2,389,773,000 after acquiring an additional 882,253 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

More Royal Bank Of Canada News

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Royal Bank of Canada reported quarterly earnings and revenue above analyst expectations, helped by stronger-than-forecast results across most business segments and lower loan-loss provisions. RBC Beats Estimates on Strong Results Across Its Business Lines
• Positive Sentiment: The company increased its quarterly dividend to $1.76 per share from $1.64, signaling management confidence in earnings power and capital strength. Royal Bank Of Canada Price Performance
• Positive Sentiment: Management sounded upbeat on the Canadian economy and said it is not worried about fintech competition, reinforcing the view that RBC can defend its market position. RBC CEO not afraid of competition, dismisses possibility of fintech disruption
• Neutral Sentiment: Insider buying was reported in a separate RIAEX filing tied to Global Asset Management (U.S.) Inc. RBC, but it does not appear directly related to Royal Bank of Canada’s public shares. Insider Purchase: 10% owner at $RIAEX Buys 1,956,000 Shares

Royal Bank Of Canada Trading Up 0.5%

Shares of RY stock opened at $189.92 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $265.45 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 1.49 and a beta of 0.80. The company has a 50 day moving average price of $175.27 and a 200 day moving average price of $168.46. Royal Bank Of Canada has a fifty-two week low of $124.19 and a fifty-two week high of $191.51.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the previous year, the firm earned $3.12 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Equities research analysts predict that Royal Bank Of Canada will post 11.53 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a $1.76 dividend. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s payout ratio is presently 42.41%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RY shares. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday. Weiss Ratings cut shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Finally, Zacks Research cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.00.

Royal Bank Of Canada 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.