Parallel Advisors LLC Sells 623 Shares of Royal Bank of Canada (NYSE:RY)

Parallel Advisors LLC trimmed its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 16.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,215 shares of the financial services provider’s stock after selling 623 shares during the quarter. Parallel Advisors LLC’s holdings in Royal Bank of Canada were worth $255,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of RY. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Royal Bank of Canada during the 1st quarter worth approximately $332,201,000. Toronto Dominion Bank grew its position in Royal Bank of Canada by 10.4% during the 1st quarter. Toronto Dominion Bank now owns 19,629,673 shares of the financial services provider’s stock worth $1,481,311,000 after acquiring an additional 1,853,129 shares during the last quarter. State of Tennessee Treasury Department bought a new position in Royal Bank of Canada during the 1st quarter worth approximately $86,128,000. TD Asset Management Inc. grew its position in Royal Bank of Canada by 1.3% during the 1st quarter. TD Asset Management Inc. now owns 37,487,585 shares of the financial services provider’s stock worth $2,829,072,000 after acquiring an additional 491,062 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in Royal Bank of Canada by 78.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 891,283 shares of the financial services provider’s stock worth $70,444,000 after acquiring an additional 390,959 shares during the last quarter. Institutional investors and hedge funds own 41.47% of the company’s stock.

Several research firms recently issued reports on RY. BMO Capital Markets restated a “hold” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. Desjardins restated a “buy” rating and set a $111.00 price target on shares of Royal Bank of Canada in a research report on Thursday, May 16th. Barclays restated a “sell” rating on shares of Royal Bank of Canada in a research report on Wednesday. Zacks Investment Research upgraded Royal Bank of Canada from a “sell” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Thursday, August 1st. Finally, Scotiabank restated a “buy” rating on shares of Royal Bank of Canada in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $100.00.

Shares of RY stock traded down $0.05 during trading hours on Friday, reaching $74.64. The company’s stock had a trading volume of 76,576 shares, compared to its average volume of 869,244. The stock has a market capitalization of $106.90 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.93 and a beta of 1.09. Royal Bank of Canada has a one year low of $65.76 and a one year high of $81.56. The firm’s fifty day simple moving average is $78.20 and its 200 day simple moving average is $77.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, August 21st. The financial services provider reported $1.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.04). The business had revenue of $11.54 billion during the quarter, compared to the consensus estimate of $11.56 billion. Royal Bank of Canada had a return on equity of 17.36% and a net margin of 20.04%. Royal Bank of Canada’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.10 earnings per share. As a group, equities research analysts forecast that Royal Bank of Canada will post 6.76 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a $0.796 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.76. This represents a $3.18 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Wednesday, October 23rd. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 47.78%.

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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