Royal Bank of Canada (RY) is Nexus Investment Management Inc.’s 2nd Largest Position

Nexus Investment Management Inc. reduced its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.5% in the 4th quarter, Holdings Channel reports. The firm owned 467,549 shares of the financial services provider’s stock after selling 2,353 shares during the quarter. Royal Bank of Canada comprises approximately 5.6% of Nexus Investment Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Nexus Investment Management Inc.’s holdings in Royal Bank of Canada were worth $32,010,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in RY. First Republic Investment Management Inc. grew its position in Royal Bank of Canada by 72.4% during the second quarter. First Republic Investment Management Inc. now owns 27,115 shares of the financial services provider’s stock valued at $2,042,000 after acquiring an additional 11,390 shares during the period. Natixis boosted its position in shares of Royal Bank of Canada by 40.7% in the second quarter. Natixis now owns 49,505 shares of the financial services provider’s stock worth $3,693,000 after buying an additional 14,320 shares during the period. Morgan Stanley boosted its position in shares of Royal Bank of Canada by 26.0% in the second quarter. Morgan Stanley now owns 1,241,329 shares of the financial services provider’s stock worth $93,472,000 after buying an additional 256,051 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Royal Bank of Canada by 1,860.0% in the second quarter. Tower Research Capital LLC TRC now owns 14,896 shares of the financial services provider’s stock worth $1,123,000 after buying an additional 14,136 shares during the period. Finally, Cypress Capital Group boosted its position in shares of Royal Bank of Canada by 46.6% in the second quarter. Cypress Capital Group now owns 3,825 shares of the financial services provider’s stock worth $288,000 after buying an additional 1,215 shares during the period. Hedge funds and other institutional investors own 40.91% of the company’s stock.

Shares of NYSE:RY traded up $0.21 during trading on Monday, hitting $73.00. The company’s stock had a trading volume of 35,558 shares, compared to its average volume of 712,125. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.91 and a current ratio of 0.91. Royal Bank of Canada has a fifty-two week low of $65.76 and a fifty-two week high of $87.10. The stock has a market cap of $104.24 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 1.33 and a beta of 1.08.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, November 28th. The financial services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.10. Royal Bank of Canada had a net margin of 21.60% and a return on equity of 18.09%. The firm had revenue of $10.67 billion during the quarter, compared to analyst estimates of $11.14 billion. During the same quarter in the previous year, the business earned $1.88 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts predict that Royal Bank of Canada will post 6.78 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Thursday, January 24th will be issued a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Wednesday, January 23rd. Royal Bank of Canada’s dividend payout ratio is presently 46.55%.

RY has been the subject of several analyst reports. ValuEngine downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Desjardins reaffirmed a “buy” rating on shares of Royal Bank of Canada in a research report on Tuesday, December 11th. Barclays reaffirmed a “sell” rating on shares of Royal Bank of Canada in a research report on Wednesday, November 28th. Zacks Investment Research downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. Finally, Argus decreased their target price on Royal Bank of Canada to $89.00 and set a “positive” rating for the company in a research report on Thursday, November 29th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $96.00.

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Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank of Canada (NYSE:RY) (TSE:RY).

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

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