Royal Bank of Canada (NYSE:RY) Shares Sold by CLARET ASSET MANAGEMENT Corp

CLARET ASSET MANAGEMENT Corp lowered its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,228 shares of the financial services provider’s stock after selling 6,773 shares during the period. Royal Bank of Canada comprises approximately 2.0% of CLARET ASSET MANAGEMENT Corp’s holdings, making the stock its 14th largest position. CLARET ASSET MANAGEMENT Corp’s holdings in Royal Bank of Canada were worth $9,513,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. First Trust Advisors LP lifted its position in shares of Royal Bank of Canada by 10.9% during the 1st quarter. First Trust Advisors LP now owns 383,436 shares of the financial services provider’s stock valued at $28,969,000 after acquiring an additional 37,565 shares during the period. Advisor Group Inc. raised its position in shares of Royal Bank of Canada by 15.1% during the 1st quarter. Advisor Group Inc. now owns 12,712 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 1,666 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Royal Bank of Canada by 22.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 78,496 shares of the financial services provider’s stock worth $5,930,000 after purchasing an additional 14,338 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Royal Bank of Canada by 3.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 58,236 shares of the financial services provider’s stock worth $4,399,000 after purchasing an additional 1,876 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Royal Bank of Canada by 0.5% during the 1st quarter. Northern Trust Corp now owns 1,405,879 shares of the financial services provider’s stock worth $106,214,000 after purchasing an additional 7,038 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Several brokerages recently issued reports on RY. Scotiabank restated a “buy” rating on shares of Royal Bank of Canada in a research report on Tuesday, August 20th. ValuEngine downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Barclays restated a “sell” rating on shares of Royal Bank of Canada in a research report on Wednesday, August 21st. Finally, Zacks Investment Research downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Royal Bank of Canada presently has an average rating of “Hold” and a consensus price target of $100.50.

RY stock traded up $1.32 during midday trading on Friday, hitting $80.88. The stock had a trading volume of 50,486 shares, compared to its average volume of 1,168,442. The firm has a market cap of $112.48 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 2.07 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Royal Bank of Canada has a 12-month low of $65.76 and a 12-month high of $81.61. The company’s 50-day moving average price is $77.96 and its 200 day moving average price is $78.08.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 21st. The financial services provider reported $1.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.04). The firm had revenue of $11.54 billion during the quarter, compared to analysts’ expectations of $11.56 billion. Royal Bank of Canada had a return on equity of 17.18% and a net margin of 19.66%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.10 earnings per share. As a group, sell-side analysts anticipate that Royal Bank of Canada will post 6.76 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a $0.796 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.76. This represents a $3.18 annualized dividend and a yield of 3.94%. The ex-dividend date is Wednesday, October 23rd. Royal Bank of Canada’s payout ratio is presently 47.78%.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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

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