Forsta AP Fonden Sells 2,900 Shares of Royal Bank Of Canada $RY

Forsta AP Fonden lowered its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 312,200 shares of the financial services provider’s stock after selling 2,900 shares during the quarter. Forsta AP Fonden’s holdings in Royal Bank Of Canada were worth $53,293,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in RY. Truist Financial Corp boosted its position in Royal Bank Of Canada by 10.6% during the third quarter. Truist Financial Corp now owns 101,173 shares of the financial services provider’s stock worth $14,905,000 after purchasing an additional 9,677 shares during the period. Envestnet Asset Management Inc. boosted its position in Royal Bank Of Canada by 2.2% during the third quarter. Envestnet Asset Management Inc. now owns 344,993 shares of the financial services provider’s stock worth $50,824,000 after purchasing an additional 7,278 shares during the period. HighTower Advisors LLC boosted its position in Royal Bank Of Canada by 18.5% during the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after purchasing an additional 15,046 shares during the period. Rathbones Group PLC boosted its position in Royal Bank Of Canada by 9.0% during the fourth quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock worth $55,480,000 after purchasing an additional 26,782 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Royal Bank Of Canada by 6.1% during the fourth quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after purchasing an additional 368,534 shares during the period. Institutional investors own 45.31% of the company’s stock.

Key Royal Bank Of Canada News

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Royal Bank of Canada reported quarterly earnings and revenue above analyst expectations, helped by stronger-than-forecast results across most business segments and lower loan-loss provisions. RBC Beats Estimates on Strong Results Across Its Business Lines
• Positive Sentiment: The company increased its quarterly dividend to $1.76 per share from $1.64, signaling management confidence in earnings power and capital strength. Royal Bank Of Canada Price Performance
• Positive Sentiment: Management sounded upbeat on the Canadian economy and said it is not worried about fintech competition, reinforcing the view that RBC can defend its market position. RBC CEO not afraid of competition, dismisses possibility of fintech disruption
• Neutral Sentiment: Insider buying was reported in a separate RIAEX filing tied to Global Asset Management (U.S.) Inc. RBC, but it does not appear directly related to Royal Bank of Canada’s public shares. Insider Purchase: 10% owner at $RIAEX Buys 1,956,000 Shares

Royal Bank Of Canada Price Performance

RY stock opened at $189.92 on Friday. The firm has a 50 day moving average of $175.27 and a 200-day moving average of $168.46. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 12 month low of $124.19 and a 12 month high of $191.51. The firm has a market capitalization of $265.45 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 1.48 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The company had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same period last year, the business earned $3.12 earnings per share. Royal Bank Of Canada’s revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts predict that Royal Bank Of Canada will post 11.53 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.7%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 45.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RY shares. Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Finally, Weiss Ratings lowered shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.