Beutel Goodman & Co Ltd. Has $865.07 Million Stock Position in Royal Bank Of Canada $RY

Beutel Goodman & Co Ltd. trimmed its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 6,577,072 shares of the financial services provider’s stock after selling 228,118 shares during the period. Royal Bank Of Canada makes up about 4.9% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 2nd largest position. Beutel Goodman & Co Ltd.’s holdings in Royal Bank Of Canada were worth $865,069,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in Royal Bank Of Canada during the first quarter worth about $32,000. Roxbury Financial LLC boosted its holdings in shares of Royal Bank Of Canada by 44.3% in the second quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock worth $45,000 after buying an additional 104 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in shares of Royal Bank Of Canada by 2,170.0% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 454 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 434 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Royal Bank Of Canada during the second quarter valued at approximately $51,000. Finally, Financial Management Professionals Inc. lifted its position in shares of Royal Bank Of Canada by 29.2% in the 2nd quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 98 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. CIBC downgraded Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a report on Friday, September 5th. UBS Group reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Tuesday, November 25th. Wall Street Zen upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Raymond James Financial assumed coverage on shares of Royal Bank Of Canada in a report on Monday, November 24th. They issued a “moderate buy” rating for the company. Finally, Cibc World Mkts cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Price Performance

NYSE RY opened at $160.53 on Friday. The stock has a 50-day simple moving average of $148.06 and a 200 day simple moving average of $139.07. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $161.54. The stock has a market capitalization of $224.84 billion, a PE ratio of 16.00, a P/E/G ratio of 1.18 and a beta of 0.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, topping the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 17.00% and a net margin of 14.83%.The company had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $12.12 billion. During the same period in the previous year, the business posted $3.07 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. Research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be given a $1.64 dividend. The ex-dividend date is Monday, January 26th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.1%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio is 46.67%.

Royal Bank Of Canada Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.