Royal Bank Of Canada $RY Position Reduced by Cumberland Partners Ltd

Cumberland Partners Ltd lessened its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 7.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 361,003 shares of the financial services provider’s stock after selling 30,223 shares during the quarter. Royal Bank Of Canada comprises approximately 4.4% of Cumberland Partners Ltd’s portfolio, making the stock its 2nd biggest holding. Cumberland Partners Ltd’s holdings in Royal Bank Of Canada were worth $58,235,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Harvest Fund Management Co. Ltd bought a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC bought a new position in Royal Bank Of Canada in the 4th quarter worth approximately $26,000. Key Financial Inc grew its stake 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 buying an additional 63 shares in the last quarter. Maseco LLP grew its stake in Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after buying an additional 142 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in Royal Bank Of Canada during the 3rd quarter valued at $27,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on RY. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Argus set a $225.00 target price on Royal Bank Of Canada in a report on Thursday, June 11th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $209.13 on Friday. The company’s 50 day simple moving average is $200.93 and its two-hundred day simple moving average is $180.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a 1 year low of $127.38 and a 1 year high of $218.57. The stock has a market capitalization of $289.98 billion, a PE ratio of 18.79, a P/E/G ratio of 1.65 and a beta of 0.80.

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 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.12 EPS. Analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a dividend of $1.76 per share. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is 44.47%.

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.