Royal Bank of Canada (RY) Stake Lowered by Capital Investment Counsel Inc

Capital Investment Counsel Inc cut its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 11.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,920 shares of the financial services provider’s stock after selling 373 shares during the period. Capital Investment Counsel Inc’s holdings in Royal Bank of Canada were worth $221,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc boosted its holdings in Royal Bank of Canada by 2.7% during the third quarter. Vanguard Group Inc now owns 37,561,144 shares of the financial services provider’s stock valued at $3,012,028,000 after purchasing an additional 981,890 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Royal Bank of Canada by 21.7% during the fourth quarter. Mackenzie Financial Corp now owns 21,668,991 shares of the financial services provider’s stock valued at $1,484,759,000 after purchasing an additional 3,865,530 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its holdings in Royal Bank of Canada by 0.3% during the first quarter. Beutel Goodman & Co Ltd. now owns 17,339,886 shares of the financial services provider’s stock valued at $1,308,186,000 after purchasing an additional 57,822 shares in the last quarter. Norges Bank acquired a new stake in Royal Bank of Canada during the fourth quarter valued at approximately $1,021,258,000. Finally, CIBC Asset Management Inc boosted its holdings in Royal Bank of Canada by 0.3% during the fourth quarter. CIBC Asset Management Inc now owns 13,334,834 shares of the financial services provider’s stock valued at $912,947,000 after purchasing an additional 38,397 shares in the last quarter. Institutional investors and hedge funds own 41.73% of the company’s stock.

A number of equities research analysts have weighed in on RY shares. Zacks Investment Research downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Scotiabank reaffirmed an “average” rating and set a $111.00 price objective on shares of Royal Bank of Canada in a report on Friday, February 22nd. Canaccord Genuity reaffirmed a “hold” rating on shares of Royal Bank of Canada in a report on Friday, February 22nd. Finally, Barclays reaffirmed a “sell” rating on shares of Royal Bank of Canada in a report on Friday, February 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $95.33.

Shares of RY traded up $0.57 on Monday, hitting $79.27. The company’s stock had a trading volume of 36,360 shares, compared to its average volume of 768,500. The company has a market capitalization of $112.97 billion, a P/E ratio of 12.12, a PEG ratio of 1.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.93 and a quick ratio of 0.93. Royal Bank of Canada has a fifty-two week low of $65.76 and a fifty-two week high of $81.56.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Friday, February 22nd. The financial services provider reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The business had revenue of $8.70 billion during the quarter, compared to analyst estimates of $8.31 billion. Royal Bank of Canada had a return on equity of 17.52% and a net margin of 20.85%. During the same period in the previous year, the firm earned $2.01 earnings per share. On average, sell-side analysts anticipate that Royal Bank of Canada will post 6.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be issued a $0.7704 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s payout ratio is presently 46.86%.

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About Royal Bank of Canada

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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