Montrusco Bolton Investments Inc. Sells 7,272 Shares of Royal Bank Of Canada $RY

Montrusco Bolton Investments Inc. lessened its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.5% during the first quarter, HoldingsChannel.com reports. The firm owned 278,201 shares of the financial services provider’s stock after selling 7,272 shares during the quarter. Royal Bank Of Canada makes up about 0.7% of Montrusco Bolton Investments Inc.’s holdings, making the stock its 29th biggest holding. Montrusco Bolton Investments Inc.’s holdings in Royal Bank Of Canada were worth $44,830,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RY. Florida Trust Wealth Management Co grew its stake in Royal Bank Of Canada by 2.8% during the fourth quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock worth $373,000 after buying an additional 60 shares in the last quarter. Echo45 Advisors LLC grew its position in Royal Bank Of Canada by 5.0% during the 1st quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 60 shares during the last quarter. Fiduciary Financial Group LLC increased its stake in shares of Royal Bank Of Canada by 3.4% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock valued at $320,000 after buying an additional 61 shares during the period. Key Financial Inc increased its position in Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 63 shares during the period. Finally, Alta Capital Management LLC increased its holdings in Royal Bank Of Canada by 4.0% in the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 65 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RY has been the subject of a number of recent analyst reports. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Trading Down 0.1%

Shares of Royal Bank Of Canada stock opened at $204.64 on Friday. The company has a market capitalization of $284.39 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 1.62 and a beta of 0.80. The stock has a fifty day simple moving average of $191.45 and a 200 day simple moving average of $176.46. Royal Bank Of Canada has a 12-month low of $127.38 and a 12-month high of $209.37. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. During the same period in the previous year, the company earned $3.12 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 11.45 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 Monday, August 24th. Stockholders of record on Monday, July 27th will be given a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is presently 42.41%.

Royal Bank Of Canada Company 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.