First Personal Financial Services Lowers Position in Royal Bank of Canada (RY)

First Personal Financial Services trimmed its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,563 shares of the financial services provider’s stock after selling 825 shares during the period. First Personal Financial Services’ holdings in Royal Bank of Canada were worth $606,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RY. Montrusco Bolton Investments Inc. increased its stake in Royal Bank of Canada by 2.9% during the second quarter. Montrusco Bolton Investments Inc. now owns 1,916,908 shares of the financial services provider’s stock valued at $144,251,000 after acquiring an additional 53,713 shares during the period. First Citizens Bank & Trust Co. bought a new position in Royal Bank of Canada during the second quarter valued at about $328,000. Addenda Capital Inc. boosted its holdings in Royal Bank of Canada by 96.5% during the second quarter. Addenda Capital Inc. now owns 2,568,518 shares of the financial services provider’s stock valued at $195,819,000 after purchasing an additional 1,261,654 shares in the last quarter. Triangle Securities Wealth Management boosted its holdings in Royal Bank of Canada by 27.2% during the second quarter. Triangle Securities Wealth Management now owns 10,983 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 2,350 shares in the last quarter. Finally, Rathbone Brothers plc boosted its holdings in Royal Bank of Canada by 0.6% during the second quarter. Rathbone Brothers plc now owns 238,595 shares of the financial services provider’s stock valued at $17,954,000 after purchasing an additional 1,360 shares in the last quarter. Hedge funds and other institutional investors own 40.04% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. ValuEngine raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. Scotia Howard Weill raised Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a report on Monday, September 10th. Scotiabank raised Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report on Monday, September 10th. Finally, Howard Weil raised Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a report on Monday, September 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Royal Bank of Canada presently has an average rating of “Hold” and an average price target of $97.20.

NYSE RY opened at $73.02 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $104.96 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.45 and a beta of 1.14. Royal Bank of Canada has a 1-year low of $71.01 and a 1-year high of $87.10.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, August 22nd. The financial services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The company had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.39 billion. Royal Bank of Canada had a return on equity of 18.11% and a net margin of 21.48%. On average, sell-side analysts predict that Royal Bank of Canada will post 6.55 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Thursday, October 25th will be issued a $0.753 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.73. This represents a $3.01 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Wednesday, October 24th. Royal Bank of Canada’s payout ratio is presently 50.17%.

Royal Bank of Canada Company Profile

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

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

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