Hsbc Holdings PLC Reduces Position in Royal Bank Of Canada $RY

Hsbc Holdings PLC lowered its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 93.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 124,824 shares of the financial services provider’s stock after selling 1,756,271 shares during the period. Hsbc Holdings PLC’s holdings in Royal Bank Of Canada were worth $21,352,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd purchased a new stake in Royal Bank Of Canada during the 4th quarter worth approximately $25,000. Tradewinds Capital Management LLC acquired a new position in shares of Royal Bank Of Canada in the 4th quarter valued at approximately $26,000. Johnson Financial Group Inc. purchased a new position in shares of Royal Bank Of Canada during the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC boosted its stake in shares of Royal Bank Of Canada by 75.4% during the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its position in shares of Royal Bank Of Canada by 55.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after buying an additional 88 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

RY stock opened at $202.31 on Thursday. The stock’s 50 day simple moving average is $187.51 and its 200 day simple moving average is $174.54. Royal Bank Of Canada has a 12-month low of $127.38 and a 12-month high of $203.55. The firm has a market cap of $281.16 billion, a P/E ratio of 18.18, a P/E/G ratio of 1.61 and a beta of 0.81. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 0.10.

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, topping 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 17.68%. The firm had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the previous year, the company posted $3.12 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts predict that Royal Bank Of Canada will post 11.45 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared 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 3.5%. The ex-dividend date is Monday, July 27th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is 42.41%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RY shares. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada 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.