Greenleaf Trust Sells 383 Shares of Royal Bank of Canada (RY)

Greenleaf Trust trimmed its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,735 shares of the financial services provider’s stock after selling 383 shares during the period. Greenleaf Trust’s holdings in Royal Bank of Canada were worth $584,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Brinker Capital Inc. boosted its stake in shares of Royal Bank of Canada by 1.9% during the 1st quarter. Brinker Capital Inc. now owns 7,061 shares of the financial services provider’s stock worth $533,000 after buying an additional 129 shares during the last quarter. Sowell Financial Services LLC boosted its stake in shares of Royal Bank of Canada by 1.2% during the 4th quarter. Sowell Financial Services LLC now owns 11,608 shares of the financial services provider’s stock worth $795,000 after buying an additional 134 shares during the last quarter. Cardinal Capital Management boosted its stake in shares of Royal Bank of Canada by 0.3% during the 1st quarter. Cardinal Capital Management now owns 39,436 shares of the financial services provider’s stock worth $2,979,000 after buying an additional 134 shares during the last quarter. Cetera Advisor Networks LLC raised its holdings in shares of Royal Bank of Canada by 1.5% in the 1st quarter. Cetera Advisor Networks LLC now owns 9,425 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 137 shares during the period. Finally, CAPROCK Group Inc. lifted its stake in Royal Bank of Canada by 3.5% in the 4th quarter. CAPROCK Group Inc. now owns 4,396 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 148 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

Several brokerages recently issued reports on RY. Zacks Investment Research upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Wednesday. Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a research note on Friday, May 17th. Desjardins reiterated a “buy” rating and issued a $111.00 target price on shares of Royal Bank of Canada in a research note on Thursday, May 16th. Canaccord Genuity reiterated a “hold” rating on shares of Royal Bank of Canada in a research note on Friday, February 22nd. Finally, Scotiabank reiterated an “average” rating and issued a $111.00 target price on shares of Royal Bank of Canada in a research note on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Royal Bank of Canada has an average rating of “Buy” and an average target price of $99.25.

Royal Bank of Canada stock opened at $78.39 on Thursday. The stock has a market capitalization of $112.60 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.96 and a beta of 1.11. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a twelve month low of $65.76 and a twelve month high of $81.56.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Friday, February 22nd. The financial services provider reported $1.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.01). The company had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.31 billion. Royal Bank of Canada had a net margin of 20.85% and a return on equity of 17.52%. During the same period in the prior year, the company earned $2.01 earnings per share. As a group, equities analysts forecast that Royal Bank of Canada will post 6.67 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be issued a $0.7704 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 3.93%. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 46.86%.

WARNING: “Greenleaf Trust Sells 383 Shares of Royal Bank of Canada (RY)” was published by Baseball Daily News and is the property of of Baseball Daily News. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://www.baseballdailydigest.com/news/2019/05/23/greenleaf-trust-sells-383-shares-of-royal-bank-of-canada-ry.html.

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 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.

Recommended Story: How mutual funds make money

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)

Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.