Hennessy Advisors Inc. lowered its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,000 shares of the financial services provider’s stock after selling 2,900 shares during the period. Hennessy Advisors Inc.’s holdings in Royal Bank of Canada were worth $4,910,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Balentine LLC raised its holdings in shares of Royal Bank of Canada by 36.2% in the third quarter. Balentine LLC now owns 549 shares of the financial services provider’s stock worth $45,000 after buying an additional 146 shares during the last quarter. Boston Partners purchased a new position in Royal Bank of Canada in the 2nd quarter worth $50,000. CWM LLC raised its stake in Royal Bank of Canada by 140.0% in the 3rd quarter. CWM LLC now owns 804 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 469 shares during the last quarter. Cornerstone Advisors Inc. lifted its position in Royal Bank of Canada by 49.9% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,007 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 335 shares during the period. Finally, HM Payson & Co. acquired a new stake in Royal Bank of Canada during the 2nd quarter worth about $90,000. Hedge funds and other institutional investors own 41.83% of the company’s stock.
NYSE RY opened at $80.46 on Wednesday. Royal Bank of Canada has a 1 year low of $72.68 and a 1 year high of $82.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $114.78 billion, a PE ratio of 12.03, a P/E/G ratio of 2.21 and a beta of 1.08. The company has a fifty day moving average of $79.68 and a 200 day moving average of $79.35.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, December 4th. The financial services provider reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.06). The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.97 billion. Royal Bank of Canada had a return on equity of 17.04% and a net margin of 19.07%. Research analysts expect that Royal Bank of Canada will post 6.98 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a $0.7897 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $3.16 annualized dividend and a dividend yield of 3.93%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 47.38%.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. ValuEngine upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Thursday, December 26th. Desjardins downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. CIBC upgraded Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating and upped their target price for the company from $109.00 to $120.00 in a research report on Thursday, November 21st. Finally, Credit Suisse Group upgraded shares of Royal Bank of Canada from a “neutral” rating to an “outperform” rating and set a $108.00 price target on the stock in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Royal Bank of Canada currently has an average rating of “Hold” and a consensus target price of $109.17.
Royal Bank of Canada Company Profile
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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