Royal Bank Of Canada (NYSE:RY) Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. decreased its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 20.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,764 shares of the financial services provider’s stock after selling 1,507 shares during the quarter. Phoenix Financial Ltd.’s holdings in Royal Bank Of Canada were worth $653,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Baskin Financial Services Inc. grew its position in Royal Bank Of Canada by 5.0% during the first quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider’s stock valued at $7,079,000 after acquiring an additional 3,006 shares during the period. Envestnet Asset Management Inc. grew its position in Royal Bank Of Canada by 1.1% during the first quarter. Envestnet Asset Management Inc. now owns 341,776 shares of the financial services provider’s stock valued at $38,525,000 after acquiring an additional 3,767 shares during the period. Capital Investment Counsel Inc grew its position in Royal Bank Of Canada by 24.4% during the first quarter. Capital Investment Counsel Inc now owns 10,146 shares of the financial services provider’s stock valued at $1,144,000 after acquiring an additional 1,989 shares during the period. Unigestion Holding SA grew its position in Royal Bank Of Canada by 48.7% during the first quarter. Unigestion Holding SA now owns 210,566 shares of the financial services provider’s stock valued at $23,705,000 after acquiring an additional 68,939 shares during the period. Finally, Diversified Trust Co lifted its stake in shares of Royal Bank Of Canada by 68.1% during the first quarter. Diversified Trust Co now owns 79,642 shares of the financial services provider’s stock worth $8,977,000 after purchasing an additional 32,255 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Up 0.0%

NYSE:RY opened at $132.05 on Friday. 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 has a one year low of $102.89 and a one year high of $134.26. The business’s 50-day simple moving average is $129.56 and its 200 day simple moving average is $121.61. The stock has a market cap of $186.26 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The business had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. During the same quarter last year, the firm posted $2.92 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be paid a $1.1152 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 annualized dividend and a dividend yield of 3.38%. Royal Bank Of Canada’s payout ratio is 50.33%.

Analyst Ratings Changes

A number of brokerages have commented on RY. Cibc World Mkts upgraded Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Wall Street Zen cut Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. Scotiabank began coverage on Royal Bank Of Canada in a research note on Thursday, May 15th. They set a “sector outperform” rating on the stock. CIBC restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

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.