Royal Bank Of Canada $RY Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 0.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 763,296 shares of the financial services provider’s stock after selling 4,638 shares during the period. Russell Investments Group Ltd. owned 0.05% of Royal Bank Of Canada worth $112,493,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RY. Toth Financial Advisory Corp purchased a new stake in shares of Royal Bank Of Canada during the 3rd quarter worth about $29,000. True Wealth Design LLC acquired a new stake in shares of Royal Bank Of Canada during the 3rd quarter valued at about $31,000. Atlantic Union Bankshares Corp purchased a new position in shares of Royal Bank Of Canada in the 3rd quarter valued at about $38,000. CoreCap Advisors LLC raised its holdings in Royal Bank Of Canada by 103.8% in the 3rd quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 138 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Royal Bank Of Canada in the 2nd quarter worth about $51,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

NYSE:RY opened at $163.58 on Tuesday. The stock has a 50 day moving average of $169.34 and a two-hundred day moving average of $157.30. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $176.19. The firm has a market cap of $228.63 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 1.23 and a beta of 0.79. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.13. The business had revenue of $13.18 billion for the quarter, compared to the consensus estimate of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.62 earnings per share. On average, analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio is currently 45.74%.

Wall Street Analyst Weigh In

RY has been the topic of several research analyst reports. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Zacks Research downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Thursday, January 22nd. TD Securities raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Finally, UBS Group restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Tuesday, November 25th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Company 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.