Barometer Capital Management Inc. Has $14.48 Million Stake in Royal Bank Of Canada (NYSE:RY)

Barometer Capital Management Inc. lowered its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 52.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,670 shares of the financial services provider’s stock after selling 219,958 shares during the period. Royal Bank Of Canada comprises approximately 1.5% of Barometer Capital Management Inc.’s holdings, making the stock its 23rd largest position. Barometer Capital Management Inc.’s holdings in Royal Bank Of Canada were worth $14,480,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. APG Asset Management N.V. increased its stake in Royal Bank Of Canada by 2.8% in the second quarter. APG Asset Management N.V. now owns 3,937,692 shares of the financial services provider’s stock worth $370,773,000 after buying an additional 108,400 shares in the last quarter. Forsta AP Fonden increased its stake in Royal Bank Of Canada by 28.3% in the second quarter. Forsta AP Fonden now owns 181,319 shares of the financial services provider’s stock worth $13,146,000 after buying an additional 40,000 shares in the last quarter. BB&T Corp increased its stake in Royal Bank Of Canada by 5.8% in the second quarter. BB&T Corp now owns 56,655 shares of the financial services provider’s stock worth $4,108,000 after buying an additional 3,124 shares in the last quarter. Gradient Investments LLC increased its stake in Royal Bank Of Canada by 201.1% in the second quarter. Gradient Investments LLC now owns 10,528 shares of the financial services provider’s stock worth $763,000 after buying an additional 7,031 shares in the last quarter. Finally, Aperio Group LLC increased its stake in Royal Bank Of Canada by 14.7% in the second quarter. Aperio Group LLC now owns 613,376 shares of the financial services provider’s stock worth $44,482,000 after buying an additional 78,462 shares in the last quarter. 45.67% of the stock is owned by institutional investors and hedge funds.

Shares of Royal Bank Of Canada (NYSE RY) traded up 0.49% during trading on Friday, reaching $73.32. The company had a trading volume of 975,789 shares. The firm has a market capitalization of $106.82 billion, a PE ratio of 12.52 and a beta of 1.07. Royal Bank Of Canada has a 1-year low of $60.50 and a 1-year high of $76.01. The firm has a 50-day moving average of $74.22 and a 200 day moving average of $72.07.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 25th. The financial services provider reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.08. Royal Bank Of Canada had a net margin of 23.16% and a return on equity of 16.69%. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $6.88 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. Analysts expect that Royal Bank Of Canada will post $5.86 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Wednesday, July 26th will be paid a $0.6439 dividend. This represents a $2.58 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, July 24th. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 49.36%.

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RY has been the topic of several analyst reports. Zacks Investment Research cut Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. BidaskClub raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Canaccord Genuity assumed coverage on Royal Bank Of Canada in a research note on Tuesday, July 18th. They set a “hold” rating on the stock. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, May 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $85.63.

Royal Bank Of Canada Company Profile

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.

Institutional Ownership by Quarter for Royal Bank Of Canada (NYSE:RY)

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