Forbes J M & Co. LLP maintained its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,600 shares of the financial services provider’s stock at the close of the second quarter. Forbes J M & Co. LLP’s holdings in Royal Bank Of Canada were worth $406,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Captrust Financial Advisors bought a new position in Royal Bank Of Canada in the 2nd quarter worth $1,666,000. Bridgewater Associates LP bought a new position in Royal Bank Of Canada in the 2nd quarter worth $21,167,000. Ameriprise Financial Inc. raised its holdings in Royal Bank Of Canada by 7.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 38,769 shares of the financial services provider’s stock worth $2,812,000 after purchasing an additional 2,623 shares during the period. AXA raised its holdings in Royal Bank Of Canada by 1.1% in the 2nd quarter. AXA now owns 1,024,403 shares of the financial services provider’s stock worth $74,290,000 after purchasing an additional 10,700 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Royal Bank Of Canada by 4.7% during the second quarter. Wells Fargo & Company MN now owns 404,855 shares of the financial services provider’s stock valued at $29,360,000 after acquiring an additional 18,018 shares during the period. 40.65% of the stock is currently owned by institutional investors.
Shares of Royal Bank Of Canada (RY) traded down 0.25% on Friday, hitting $75.42. The stock had a trading volume of 236,662 shares. The firm has a market cap of $109.96 billion, a P/E ratio of 12.89 and a beta of 1.05. Royal Bank Of Canada has a 12 month low of $60.57 and a 12 month high of $76.01. The firm’s 50-day moving average price is $74.19 and its 200 day moving average price is $72.15.
Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, August 23rd. The financial services provider reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.01). The firm had revenue of $7.43 billion during the quarter, compared to analyst estimates of $7.11 billion. Royal Bank Of Canada had a return on equity of 16.63% and a net margin of 22.98%. During the same quarter last year, the company posted $1.72 EPS. Analysts anticipate that Royal Bank Of Canada will post $6.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, October 26th will be given a $0.724 dividend. The ex-dividend date is Wednesday, October 25th. This represents a $2.90 dividend on an annualized basis and a dividend yield of 3.83%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $0.64. Royal Bank Of Canada’s dividend payout ratio is 48.55%.
A number of equities research analysts have commented on the company. Scotiabank cut Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report on Monday, August 21st. Howard Weil cut Royal Bank Of Canada to a “sector perform” rating in a report on Monday, August 21st. BidaskClub raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Zacks Investment Research raised Royal Bank Of Canada from a “sell” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Wednesday, August 9th. Finally, Canaccord Genuity assumed coverage on Royal Bank Of Canada in a report on Tuesday, July 18th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $80.00.
About Royal Bank Of Canada
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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