Royal Bank Of Canada $RY is Lincluden Management Ltd.’s 2nd Largest Position

Lincluden Management Ltd. trimmed its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 443,782 shares of the financial services provider’s stock after selling 51,926 shares during the period. Royal Bank Of Canada comprises about 7.4% of Lincluden Management Ltd.’s holdings, making the stock its 2nd biggest position. Lincluden Management Ltd.’s holdings in Royal Bank Of Canada were worth $65,020,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Royal Bank Of Canada by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock valued at $9,777,472,000 after purchasing an additional 1,329,637 shares in the last quarter. Norges Bank purchased a new stake in Royal Bank Of Canada during the second quarter worth $2,599,262,000. Canerector Inc. boosted its position in Royal Bank Of Canada by 20,412.0% during the third quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock worth $1,964,188,000 after purchasing an additional 13,267,800 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Royal Bank Of Canada by 3.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,147,980 shares of the financial services provider’s stock valued at $1,642,712,000 after purchasing an additional 338,575 shares during the last quarter. Finally, Scotia Capital Inc. grew its holdings in Royal Bank Of Canada by 1.6% in the second quarter. Scotia Capital Inc. now owns 9,065,967 shares of the financial services provider’s stock valued at $1,191,770,000 after purchasing an additional 141,761 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 1.6%

Shares of NYSE:RY opened at $163.91 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $176.19. The stock’s fifty day simple moving average is $168.58 and its 200-day simple moving average is $158.12. The company has a market capitalization of $229.10 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.22 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The firm had revenue of $13.18 billion during the quarter, compared to analysts’ expectations of $12.60 billion. During the same quarter last year, the business posted $3.62 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RY. UBS Group reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Tuesday, November 25th. TD Cowen raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. TD Securities upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. National Bank Financial restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and an average price target of $162.00.

About Royal Bank Of Canada

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.