Allianz Asset Management GmbH Sells 5,034 Shares of Royal Bank Of Canada $RY

Allianz Asset Management GmbH reduced its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 212,091 shares of the financial services provider’s stock after selling 5,034 shares during the period. Allianz Asset Management GmbH’s holdings in Royal Bank Of Canada were worth $31,266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Canada Pension Plan Investment Board boosted its position in Royal Bank Of Canada by 8.2% in the second quarter. Canada Pension Plan Investment Board now owns 6,867,900 shares of the financial services provider’s stock worth $905,726,000 after purchasing an additional 521,132 shares during the last quarter. Baskin Financial Services Inc. raised its stake in shares of Royal Bank Of Canada by 3.3% during the 2nd quarter. Baskin Financial Services Inc. now owns 64,946 shares of the financial services provider’s stock worth $8,558,000 after purchasing an additional 2,091 shares during the period. Savant Capital LLC grew its position in Royal Bank Of Canada by 37.8% during the second quarter. Savant Capital LLC now owns 11,590 shares of the financial services provider’s stock valued at $1,525,000 after buying an additional 3,179 shares during the period. Vontobel Holding Ltd. grew its position in Royal Bank Of Canada by 289.6% during the third quarter. Vontobel Holding Ltd. now owns 358,695 shares of the financial services provider’s stock valued at $52,856,000 after buying an additional 266,636 shares during the period. Finally, Vise Technologies Inc. purchased a new stake in Royal Bank Of Canada during the second quarter worth about $2,780,000. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the subject of a number of research reports. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Monday, November 24th. Wall Street Zen raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. TD Securities upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Finally, Jefferies Financial Group cut Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $168.65 on Friday. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $174.61. The stock’s 50-day simple moving average is $167.33 and its 200 day simple moving average is $151.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $235.69 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 1.21 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The firm had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $12.12 billion. During the same period in the prior year, the business posted $3.07 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. Research analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be paid a $1.64 dividend. The ex-dividend date is Monday, January 26th. This represents a $6.56 annualized dividend and a yield of 3.9%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio is currently 47.66%.

Royal Bank Of Canada Company Profile

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.