Canoe Financial LP Sells 13,156 Shares of Royal Bank Of Canada $RY

Canoe Financial LP reduced its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,026,117 shares of the financial services provider’s stock after selling 13,156 shares during the period. Royal Bank Of Canada accounts for approximately 2.2% of Canoe Financial LP’s portfolio, making the stock its 16th largest position. Canoe Financial LP’s holdings in Royal Bank Of Canada were worth $151,207,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Toth Financial Advisory Corp bought a new position in Royal Bank Of Canada during the third quarter worth $29,000. Roxbury Financial LLC grew its position in Royal Bank Of Canada by 44.3% in the 2nd quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 104 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Royal Bank Of Canada during the 2nd quarter worth about $51,000. Smartleaf Asset Management LLC raised its position in shares of Royal Bank Of Canada by 86.5% during the second quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock valued at $50,000 after buying an additional 180 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its stake in shares of Royal Bank Of Canada by 29.2% in the second quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock valued at $57,000 after buying an additional 98 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Trading Up 0.2%

RY stock opened at $171.20 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $171.84. The company has a market cap of $239.76 billion, a P/E ratio of 17.07, a PEG ratio of 1.23 and a beta of 0.80. The business has a fifty day moving average of $154.36 and a 200-day moving average of $143.21.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. The firm had revenue of $12.27 billion during the quarter, compared to analyst estimates of $12.12 billion. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The company’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the company earned $3.07 earnings per share. As a group, equities research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Monday, January 26th will be given a dividend of $1.64 per share. The ex-dividend date is Monday, January 26th. This represents a $6.56 annualized dividend and a dividend yield of 3.8%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio is presently 44.07%.

Analyst Ratings Changes

RY has been the topic of several recent research reports. Cowen upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Wednesday, December 17th. TD Securities upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Argus lifted their price objective on Royal Bank Of Canada from $140.00 to $162.00 and gave the company a “buy” rating in a report on Friday, August 29th. Finally, Natl Bk Canada upgraded shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.00.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.