Cigna Investments Inc. New Sells 1,027 Shares of Royal Bank Of Canada (RY)

Cigna Investments Inc. New reduced its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,018 shares of the financial services provider’s stock after selling 1,027 shares during the period. Cigna Investments Inc. New’s holdings in Royal Bank Of Canada were worth $1,598,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Welch Group LLC acquired a new stake in Royal Bank Of Canada during the first quarter worth about $101,000. Quadrant Capital Group LLC increased its stake in Royal Bank Of Canada by 12.9% in the first quarter. Quadrant Capital Group LLC now owns 1,644 shares of the financial services provider’s stock worth $108,000 after buying an additional 188 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Royal Bank Of Canada during the first quarter worth about $123,000. Proficio Capital Partners LLC increased its stake in Royal Bank Of Canada by 125.3% in the first quarter. Proficio Capital Partners LLC now owns 2,098 shares of the financial services provider’s stock worth $145,000 after buying an additional 1,167 shares during the last quarter. Finally, Jolley Asset Management LLC increased its stake in Royal Bank Of Canada by 1.0% in the second quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock worth $176,000 after buying an additional 25 shares during the last quarter. 45.67% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada (RY) traded up 0.49% during mid-day trading on Friday, hitting $73.32. 975,789 shares of the company’s stock traded hands. Royal Bank Of Canada has a one year low of $60.50 and a one year high of $76.01. The firm’s 50-day moving average price is $74.22 and its 200-day moving average price is $72.07. The stock has a market cap of $106.82 billion, a PE ratio of 12.67 and a beta of 1.07.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 25th. The financial services provider reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.08. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $6.88 billion. Royal Bank Of Canada had a return on equity of 16.69% and a net margin of 23.16%. During the same quarter in the prior year, the company earned $1.66 earnings per share. On average, analysts forecast that Royal Bank Of Canada will post $5.86 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Wednesday, July 26th will be paid a dividend of $0.6439 per share. This represents a $2.58 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Monday, July 24th. Royal Bank Of Canada’s payout ratio is currently 49.36%.

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A number of equities research analysts recently issued reports on the stock. Canaccord Genuity began coverage on shares of Royal Bank Of Canada in a research note on Tuesday, July 18th. They set a “hold” rating on the stock. Zacks Investment Research upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Wednesday, July 19th. BidaskClub cut shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, National Bank Financial reiterated a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $85.63.

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.

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

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