Galibier Capital Management Ltd. Sells 35,030 Shares of Royal Bank Of Canada $RY

Galibier Capital Management Ltd. reduced its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 13.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 220,458 shares of the financial services provider’s stock after selling 35,030 shares during the quarter. Royal Bank Of Canada comprises about 10.8% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 2nd largest holding. Galibier Capital Management Ltd.’s holdings in Royal Bank Of Canada were worth $32,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of RY. Vanguard Group Inc. increased its stake in Royal Bank Of Canada by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 65,008,684 shares of the financial services provider’s stock valued at $8,567,752,000 after buying an additional 2,437,164 shares during the period. TD Asset Management Inc boosted its holdings in shares of Royal Bank Of Canada by 0.9% in the second quarter. TD Asset Management Inc now owns 31,812,382 shares of the financial services provider’s stock valued at $4,184,220,000 after acquiring an additional 296,978 shares in the last quarter. Norges Bank bought a new position in shares of Royal Bank Of Canada in the second quarter valued at approximately $2,599,262,000. Geode Capital Management LLC increased its stake in shares of Royal Bank Of Canada by 20.2% during the second quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock valued at $1,517,123,000 after acquiring an additional 1,910,492 shares during the period. Finally, Scotia Capital Inc. raised its holdings in Royal Bank Of Canada by 1.6% during the second quarter. Scotia Capital Inc. now owns 9,065,967 shares of the financial services provider’s stock worth $1,191,770,000 after purchasing an additional 141,761 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Up 0.1%

NYSE:RY opened at $170.66 on Friday. The stock has a fifty day simple moving average of $157.27 and a 200 day simple moving average of $145.00. The firm has a market capitalization of $239.01 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.22 and a beta of 0.79. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $172.38. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The company had revenue of $12.27 billion during the quarter, compared to analyst estimates of $12.12 billion. During the same period in the prior year, the firm earned $3.07 earnings per share. The business’s quarterly revenue was up 14.2% on a year-over-year basis. Sell-side analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be given a $1.64 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date is Monday, January 26th. This represents a $6.56 annualized dividend and a dividend yield of 3.8%. Royal Bank Of Canada’s payout ratio is currently 46.76%.

Wall Street Analyst Weigh In

RY has been the subject of a number of research reports. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, December 4th. Zacks Research lowered Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Cibc World Mkts cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Wednesday, October 8th. Finally, National Bankshares restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

About Royal Bank Of Canada

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.