Royal Bank Of Canada $RY Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC decreased its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 34.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,672 shares of the financial services provider’s stock after selling 4,626 shares during the period. Sterling Capital Management LLC’s holdings in Royal Bank Of Canada were worth $1,710,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RY. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $202.77 on Tuesday. 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 fifty-two week low of $143.38 and a fifty-two week high of $218.57. The business has a fifty day moving average of $202.35 and a 200-day moving average of $188.27. The stock has a market cap of $280.62 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.80 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 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 analyst estimates of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. As a group, analysts predict that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be issued a C$1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s dividend payout ratio is 43.39%.

Royal Bank Of Canada Company Profile

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 provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC’s personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.