OMERS ADMINISTRATION Corp Sells 319,167 Shares of Royal Bank Of Canada $RY

OMERS ADMINISTRATION Corp reduced its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 31.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 681,357 shares of the financial services provider’s stock after selling 319,167 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Royal Bank Of Canada were worth $109,794,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Harvest Fund Management Co. Ltd purchased a new stake in Royal Bank Of Canada in the fourth quarter worth about $25,000. Tradewinds Capital Management LLC purchased a new position in shares of Royal Bank Of Canada during the fourth quarter valued at approximately $26,000. Key Financial Inc lifted its holdings in shares of Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. Maseco LLP boosted its position in shares of Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of Royal Bank Of Canada in the 3rd quarter worth approximately $27,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $209.13 on Friday. Royal Bank Of Canada has a twelve month low of $127.38 and a twelve month high of $218.57. The firm has a market cap of $289.98 billion, a P/E ratio of 18.79, a PEG ratio of 1.66 and a beta of 0.80. The company has a 50 day moving average of $200.93 and a 200 day moving average of $180.81. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The business had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $3.12 EPS. As a group, research analysts expect that Royal Bank Of Canada will post 11.45 EPS 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. Investors 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 dividend yield of 3.4%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is 42.41%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RY. Weiss Ratings lowered Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 29th. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $225.00.

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.