Royal Bank of Canada (RY) Shares Sold by Davis Rea LTD.

Davis Rea LTD. decreased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 75,036 shares of the financial services provider’s stock after selling 1,063 shares during the period. Royal Bank of Canada makes up 3.3% of Davis Rea LTD.’s holdings, making the stock its 12th largest position. Davis Rea LTD.’s holdings in Royal Bank of Canada were worth $5,661,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Financial Gravity Companies Inc. acquired a new position in Royal Bank of Canada in the 4th quarter worth $38,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth about $38,000. Executive Wealth Management LLC acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth about $43,000. Laurel Wealth Advisors LLC acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth about $95,000. Finally, Huntington National Bank boosted its stake in shares of Royal Bank of Canada by 14.5% during the 4th quarter. Huntington National Bank now owns 1,660 shares of the financial services provider’s stock worth $114,000 after buying an additional 210 shares during the last quarter. Institutional investors own 41.74% of the company’s stock.

NYSE RY opened at $79.62 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.12. The company has a market cap of $114.33 billion, a P/E ratio of 12.19, a PEG ratio of 1.95 and a beta of 1.11. Royal Bank of Canada has a 1 year low of $65.76 and a 1 year high of $81.56.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Friday, February 22nd. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.01). The firm had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.31 billion. Royal Bank of Canada had a return on equity of 17.52% and a net margin of 20.85%. During the same quarter in the prior year, the business posted $2.01 EPS. Equities analysts expect that Royal Bank of Canada will post 6.82 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be given a dividend of $0.7704 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $3.08 annualized dividend and a dividend yield of 3.87%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 46.86%.

RY has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Canaccord Genuity reissued a “hold” rating on shares of Royal Bank of Canada in a report on Friday, February 22nd. Scotiabank reissued an “average” rating and issued a $111.00 price target on shares of Royal Bank of Canada in a report on Friday, February 22nd. Finally, Barclays reissued a “sell” rating on shares of Royal Bank of Canada in a report on Friday, February 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $95.33.

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

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