Healthcare of Ontario Pension Plan Trust Fund Trims Position in Royal Bank Of Canada $RY

Healthcare of Ontario Pension Plan Trust Fund cut its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 13.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,966,955 shares of the financial services provider’s stock after selling 465,320 shares during the period. Royal Bank Of Canada comprises 0.8% of Healthcare of Ontario Pension Plan Trust Fund’s portfolio, making the stock its 23rd largest holding. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.21% of Royal Bank Of Canada worth $505,857,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC increased its stake in shares of Royal Bank Of Canada by 18.5% in the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after purchasing an additional 15,046 shares in the last quarter. Rathbones Group PLC increased its stake in shares of Royal Bank Of Canada by 9.0% in the fourth quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock worth $55,480,000 after purchasing an additional 26,782 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Royal Bank Of Canada by 6.1% in the fourth quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after purchasing an additional 368,534 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Royal Bank Of Canada by 3.6% in the third quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock worth $1,219,924,000 after purchasing an additional 287,504 shares in the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Royal Bank Of Canada in the third quarter worth $1,463,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $199.58 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 firm has a fifty day moving average price of $182.12 and a 200 day moving average price of $171.76. Royal Bank Of Canada has a fifty-two week low of $126.02 and a fifty-two week high of $201.74. The firm has a market cap of $277.37 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 1.57 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share 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 firm had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same quarter in the prior year, the business earned $3.12 earnings per share. Royal Bank Of Canada’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, sell-side analysts expect that Royal Bank Of Canada will post 11.52 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a yield of 3.5%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 42.41%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RY shares. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research note on Thursday. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Finally, TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

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.