Royal Bank Of Canada $RY Stock: TD Waterhouse Canada Inc. Trims Stake

TD Waterhouse Canada Inc. lowered its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,396,432 shares of the financial services provider’s stock after selling 239,776 shares during the quarter. Royal Bank Of Canada comprises approximately 5.8% of TD Waterhouse Canada Inc.’s holdings, making the stock its 2nd largest holding. TD Waterhouse Canada Inc. owned 0.82% of Royal Bank Of Canada worth $2,216,957,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new position in Royal Bank Of Canada during the second quarter valued at approximately $2,296,717,000. Legal & General Group Plc purchased a new position in Royal Bank Of Canada during the 2nd quarter valued at approximately $1,645,758,000. M. Kulyk & Associates LLC purchased a new position in Royal Bank Of Canada during the 2nd quarter valued at approximately $2,953,000. Korea Investment CORP bought a new stake in Royal Bank Of Canada in the 2nd quarter worth approximately $175,489,000. Finally, Nykredit A S bought a new stake in Royal Bank Of Canada in the 2nd quarter worth approximately $57,183,000. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RY shares. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. Keefe, Bruyette & Woods initiated coverage on shares of Royal Bank Of Canada in a report on Friday, August 21st. They issued a “market perform” rating for the company. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Trading Up 0.6%

NYSE RY traded up $1.26 during trading hours on Friday, hitting $197.94. 643,126 shares of the company were exchanged, compared to its average volume of 1,086,076. The stock has a 50-day moving average price of $203.54 and a 200 day moving average price of $196.37. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 52 week low of $143.38 and a 52 week high of $218.57. The stock has a market cap of $273.95 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.76 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.18. The business had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. Analysts forecast that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be given a dividend of C$1.76 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 annualized dividend and a dividend yield of 3.6%. Royal Bank Of Canada’s payout ratio is currently 43.39%.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.