Klingman & Associates LLC Trims Holdings in Royal Bank of Canada (NYSE:RY)

Klingman & Associates LLC cut its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,309 shares of the financial services provider’s stock after selling 220 shares during the quarter. Klingman & Associates LLC’s holdings in Royal Bank of Canada were worth $897,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RY. Brinker Capital Inc. grew its position in 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 valued at $533,000 after purchasing an additional 129 shares during the last quarter. Leisure Capital Management grew its position in Royal Bank of Canada by 1.6% during the 2nd quarter. Leisure Capital Management now owns 8,362 shares of the financial services provider’s stock valued at $664,000 after purchasing an additional 132 shares during the last quarter. Cardinal Capital Management grew its position in 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 valued at $2,979,000 after purchasing an additional 134 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in Royal Bank of Canada by 1.5% during the 1st quarter. Cetera Advisor Networks LLC now owns 9,425 shares of the financial services provider’s stock valued at $712,000 after acquiring an additional 137 shares during the period. Finally, Teza Capital Management LLC lifted its stake in Royal Bank of Canada by 1.6% during the 1st quarter. Teza Capital Management LLC now owns 10,126 shares of the financial services provider’s stock valued at $765,000 after acquiring an additional 163 shares during the period. 41.55% of the stock is currently owned by hedge funds and other institutional investors.

RY opened at $77.31 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.12. The company has a market cap of $113.31 billion, a PE ratio of 11.84, a P/E/G ratio of 2.05 and a beta of 1.09. The company’s 50-day moving average is $79.50. Royal Bank of Canada has a 52-week low of $65.76 and a 52-week high of $81.56.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 23rd. The financial services provider reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.04. Royal Bank of Canada had a net margin of 20.04% and a return on equity of 17.36%. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $7.60 billion. During the same quarter in the prior year, the business earned $2.06 EPS. Research analysts forecast that Royal Bank of Canada will post 6.73 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be paid a $0.7596 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Wednesday, July 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 47.78%.

Several equities analysts have issued reports on RY shares. BMO Capital Markets restated a “hold” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. Barclays restated a “sell” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. Desjardins restated a “buy” rating and set a $111.00 target price on shares of Royal Bank of Canada in a research note on Thursday, May 16th. Finally, Zacks Investment Research upgraded shares of Royal Bank of Canada from a “sell” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $100.00.

About Royal Bank of Canada

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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