Blue Trust Inc. Lowers Holdings in Royal Bank Of Canada $RY

Blue Trust Inc. lowered its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 79.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,182 shares of the financial services provider’s stock after selling 12,056 shares during the quarter. Blue Trust Inc.’s holdings in Royal Bank Of Canada were worth $515,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in RY. Harvest Fund Management Co. Ltd acquired a new stake in Royal Bank Of Canada in the fourth quarter valued at about $25,000. Tradewinds Capital Management LLC purchased a new position in shares of Royal Bank Of Canada during the 4th quarter worth approximately $26,000. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada in 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% in the fourth 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 in the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in 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 acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

RY has been the subject of a number of recent analyst reports. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Trading Down 0.4%

Shares of RY opened at $203.00 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.70. Royal Bank Of Canada has a 1-year low of $127.38 and a 1-year high of $204.82. The stock has a market cap of $282.12 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 1.61 and a beta of 0.81. The firm has a 50 day simple moving average of $188.63 and a 200-day simple moving average of $175.03.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.Royal Bank Of Canada’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.12 EPS. Equities analysts forecast that Royal Bank Of Canada will post 11.45 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, July 27th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio is 42.41%.

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.