RMB Capital Management LLC Sells 2,430 Shares of Royal Bank of Canada (NYSE:RY)

RMB Capital Management LLC trimmed its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 15.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,220 shares of the financial services provider’s stock after selling 2,430 shares during the period. RMB Capital Management LLC’s holdings in Royal Bank of Canada were worth $1,050,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RY. US Bancorp DE increased its stake in Royal Bank of Canada by 27.2% during the 2nd quarter. US Bancorp DE now owns 86,510 shares of the financial services provider’s stock worth $6,869,000 after buying an additional 18,478 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Royal Bank of Canada by 187.4% during the second quarter. HighTower Advisors LLC now owns 89,291 shares of the financial services provider’s stock valued at $7,102,000 after acquiring an additional 58,222 shares during the period. United Capital Financial Advisers LLC raised its holdings in shares of Royal Bank of Canada by 4.5% during the second quarter. United Capital Financial Advisers LLC now owns 93,276 shares of the financial services provider’s stock valued at $7,406,000 after acquiring an additional 4,041 shares during the period. Bank of Nova Scotia increased its stake in Royal Bank of Canada by 0.9% in the 2nd quarter. Bank of Nova Scotia now owns 13,046,522 shares of the financial services provider’s stock valued at $949,066,000 after buying an additional 115,629 shares during the period. Finally, APG Asset Management N.V. increased its stake in Royal Bank of Canada by 453.8% in the 2nd quarter. APG Asset Management N.V. now owns 2,615,430 shares of the financial services provider’s stock valued at $182,910,000 after buying an additional 2,143,200 shares during the period. 43.61% of the stock is owned by institutional investors and hedge funds.

Shares of RY traded up $0.21 during trading hours on Tuesday, reaching $79.71. 301,265 shares of the company’s stock traded hands, compared to its average volume of 906,089. The stock has a market cap of $113.65 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 2.10 and a beta of 1.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The firm’s 50 day simple moving average is $76.16 and its 200-day simple moving average is $77.73. Royal Bank of Canada has a 12 month low of $65.76 and a 12 month high of $81.56.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 21st. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.04). The business had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $11.56 billion. Royal Bank of Canada had a net margin of 19.66% and a return on equity of 17.18%. Royal Bank of Canada’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $2.10 earnings per share. As a group, analysts expect that Royal Bank of Canada will post 6.76 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be given a dividend of $0.796 per share. This represents a $3.18 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Wednesday, October 23rd. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.76. Royal Bank of Canada’s dividend payout ratio is 47.78%.

Several analysts recently issued reports on the stock. Barclays reaffirmed a “sell” rating on shares of Royal Bank of Canada in a report on Wednesday, August 21st. Scotiabank reaffirmed a “buy” rating on shares of Royal Bank of Canada in a research note on Tuesday, August 20th. Zacks Investment Research downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. BMO Capital Markets reiterated a “hold” rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. Finally, ValuEngine cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $99.25.

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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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