Royal Bank of Canada (NYSE:RY) Shares Sold by Barometer Capital Management Inc.

Barometer Capital Management Inc. lowered its holdings in Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 12.8% in the first quarter, Holdings Channel.com reports. The fund owned 144,655 shares of the financial services provider’s stock after selling 21,255 shares during the quarter. Royal Bank of Canada makes up 3.6% of Barometer Capital Management Inc.’s investment portfolio, making the stock its 6th largest position. Barometer Capital Management Inc.’s holdings in Royal Bank of Canada were worth $19,738,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Mission Creek Capital Partners Inc. lifted its holdings in Royal Bank of Canada by 2.2% in the first quarter. Mission Creek Capital Partners Inc. now owns 13,933 shares of the financial services provider’s stock valued at $1,536,000 after acquiring an additional 300 shares during the period. Vanguard Group Inc. raised its stake in shares of Royal Bank of Canada by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 48,531,311 shares of the financial services provider’s stock worth $5,351,548,000 after buying an additional 1,503,485 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Royal Bank of Canada by 47.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,942 shares of the financial services provider’s stock worth $545,000 after buying an additional 1,582 shares during the last quarter. Moors & Cabot Inc. raised its stake in shares of Royal Bank of Canada by 4.0% during the 1st quarter. Moors & Cabot Inc. now owns 10,418 shares of the financial services provider’s stock worth $1,149,000 after buying an additional 400 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Royal Bank of Canada by 75.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,480,800 shares of the financial services provider’s stock worth $493,765,000 after buying an additional 1,930,800 shares during the last quarter. Institutional investors and hedge funds own 40.46% of the company’s stock.

Royal Bank of Canada Stock Up 1.6 %

RY opened at $95.94 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $133.63 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 2.44 and a beta of 0.87. The business has a 50-day moving average of $96.52 and a two-hundred day moving average of $101.90. Royal Bank of Canada has a 12 month low of $90.75 and a 12 month high of $119.41.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Shareholders of record on Wednesday, October 26th will be issued a $1.00 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, October 25th. This represents a $4.00 annualized dividend and a yield of 4.17%. Royal Bank of Canada’s payout ratio is 45.91%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RY. Desjardins cut their price target on Royal Bank of Canada from C$143.00 to C$141.00 in a research note on Thursday, August 25th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday. National Bank Financial lifted their price target on Royal Bank of Canada from C$147.00 to C$148.00 in a research note on Thursday, August 25th. TD Securities cut their price target on Royal Bank of Canada from C$150.00 to C$145.00 in a research note on Friday, May 27th. Finally, Credit Suisse Group dropped their price objective on Royal Bank of Canada from C$144.00 to C$143.00 in a research report on Thursday, August 25th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $139.81.

Royal Bank of Canada Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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