DKRT Investments Corp. Cuts Stake in Royal Bank Of Canada $RY

DKRT Investments Corp. lowered its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 33.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the financial services provider’s stock after selling 10,000 shares during the period. Royal Bank Of Canada accounts for about 0.7% of DKRT Investments Corp.’s investment portfolio, making the stock its 20th largest position. DKRT Investments Corp.’s holdings in Royal Bank Of Canada were worth $2,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Royal Bank Of Canada by 2.0% during the third quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock worth $9,777,472,000 after acquiring an additional 1,329,637 shares during the last quarter. Norges Bank purchased a new position in Royal Bank Of Canada during the second quarter valued at $2,599,262,000. Canerector Inc. increased its holdings in Royal Bank Of Canada by 20,412.0% in the 3rd quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock valued at $1,964,188,000 after acquiring an additional 13,267,800 shares during the last quarter. Geode Capital Management LLC lifted its stake in Royal Bank Of Canada by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock worth $1,517,123,000 after purchasing an additional 1,910,492 shares in the last quarter. Finally, Scotia Capital Inc. lifted its stake in Royal Bank Of Canada by 1.6% in the 2nd quarter. Scotia Capital Inc. now owns 9,065,967 shares of the financial services provider’s stock worth $1,191,770,000 after purchasing an additional 141,761 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the subject of several research reports. BMO Capital Markets reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Zacks Research cut Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Raymond James Financial reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. National Bank Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, December 4th. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Price Performance

Shares of RY stock opened at $163.63 on Friday. The stock has a 50 day moving average price of $169.51 and a 200 day moving average price of $156.82. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $176.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $228.71 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.24 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.81 by $0.13. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The company had revenue of $13.18 billion for the quarter, compared to the consensus estimate of $12.60 billion. During the same quarter in the prior year, the company posted $3.62 EPS. Royal Bank Of Canada’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada’s payout ratio is currently 45.74%.

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.