Royal Bank of Canada (NYSE:RY) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. decreased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 19.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 452,950 shares of the financial services provider’s stock after selling 112,425 shares during the quarter. Royal Bank of Canada comprises approximately 1.9% of Intact Investment Management Inc.’s holdings, making the stock its 14th largest position. Intact Investment Management Inc.’s holdings in Royal Bank of Canada were worth $45,808,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RY. DAVENPORT & Co LLC lifted its holdings in shares of Royal Bank of Canada by 2.4% during the third quarter. DAVENPORT & Co LLC now owns 12,579 shares of the financial services provider’s stock valued at $1,100,000 after purchasing an additional 292 shares during the last quarter. Bfsg LLC lifted its holdings in shares of Royal Bank of Canada by 1.2% during the third quarter. Bfsg LLC now owns 37,091 shares of the financial services provider’s stock valued at $3,243,000 after purchasing an additional 450 shares during the last quarter. PDS Planning Inc lifted its holdings in shares of Royal Bank of Canada by 7.4% during the third quarter. PDS Planning Inc now owns 3,446 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 236 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Royal Bank of Canada by 6.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 24,560 shares of the financial services provider’s stock valued at $2,148,000 after purchasing an additional 1,548 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Royal Bank of Canada by 19.8% during the third quarter. Pinnacle Associates Ltd. now owns 36,393 shares of the financial services provider’s stock valued at $3,182,000 after purchasing an additional 6,023 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RY has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Royal Bank of Canada in a research report on Thursday, February 22nd. They set a “hold” rating on the stock. Barclays initiated coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They set an “equal weight” rating on the stock. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, BMO Capital Markets raised Royal Bank of Canada from a “market perform” rating to an “outperform” rating and upped their price target for the company from $140.00 to $150.00 in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $137.67.

Royal Bank of Canada Stock Up 0.5 %

Shares of NYSE RY traded up $0.48 during mid-day trading on Friday, reaching $98.16. 502,507 shares of the company traded hands, compared to its average volume of 1,261,320. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $138.87 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.68 and a beta of 0.86. The company’s fifty day moving average is $99.11 and its two-hundred day moving average is $94.73. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.05. The business had revenue of $9.98 billion for the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. On average, analysts expect that Royal Bank of Canada will post 8.45 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be issued a dividend of $1.0207 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 4.16%. Royal Bank of Canada’s dividend payout ratio is currently 25.31%.

Royal Bank of Canada Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.