First Trust Advisors LP Cuts Holdings in Royal Bank Of Canada (RY)

First Trust Advisors LP lessened its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,729 shares of the financial services provider’s stock after selling 19,309 shares during the period. First Trust Advisors LP’s holdings in Royal Bank Of Canada were worth $20,245,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. TD Asset Management Inc. lifted its holdings in shares of Royal Bank Of Canada by 1.5% in the 2nd quarter. TD Asset Management Inc. now owns 41,292,901 shares of the financial services provider’s stock worth $2,993,842,000 after acquiring an additional 594,708 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Royal Bank Of Canada by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 32,981,480 shares of the financial services provider’s stock worth $2,391,817,000 after acquiring an additional 1,303,290 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Royal Bank Of Canada by 3.8% in the 2nd quarter. Capital Research Global Investors now owns 11,683,000 shares of the financial services provider’s stock worth $848,297,000 after acquiring an additional 425,000 shares during the last quarter. Scotia Capital Inc. lifted its holdings in shares of Royal Bank Of Canada by 2.2% in the 2nd quarter. Scotia Capital Inc. now owns 5,395,492 shares of the financial services provider’s stock worth $391,212,000 after acquiring an additional 114,764 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Royal Bank Of Canada by 25,974.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,267,110 shares of the financial services provider’s stock worth $381,962,000 after acquiring an additional 5,246,910 shares during the last quarter. 40.88% of the stock is owned by institutional investors and hedge funds.

RY has been the subject of a number of recent research reports. 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 for the company in a report on Wednesday, July 19th. Howard Weil lowered shares of Royal Bank Of Canada to a “sector perform” rating in a report on Monday, August 21st. BidaskClub upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Scotiabank lowered shares of Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report on Monday, August 21st. Finally, Macquarie started coverage on shares of Royal Bank Of Canada in a report on Tuesday, October 24th. They issued an “underperform” rating for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $80.00.

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Shares of Royal Bank Of Canada (NYSE RY) opened at $79.42 on Friday. Royal Bank Of Canada has a 1-year low of $60.92 and a 1-year high of $80.98. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.14. The company has a market cap of $115,789.11, a price-to-earnings ratio of 14.36, a P/E/G ratio of 2.17 and a beta of 1.08.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 EPS for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.01). Royal Bank Of Canada had a net margin of 22.98% and a return on equity of 16.63%. The firm had revenue of $7.43 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same quarter in the prior year, the company earned $1.72 earnings per share. equities analysts anticipate that Royal Bank Of Canada will post 6.03 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be issued a dividend of $0.724 per share. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $0.64. This represents a $2.90 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Wednesday, October 25th. Royal Bank Of Canada’s dividend payout ratio is currently 52.54%.

Royal Bank Of Canada 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.

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

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