TD Asset Management Inc Sells 721,350 Shares of Royal Bank Of Canada $RY

TD Asset Management Inc lessened its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,066,800 shares of the financial services provider’s stock after selling 721,350 shares during the quarter. Royal Bank Of Canada makes up about 4.3% of TD Asset Management Inc’s portfolio, making the stock its biggest position. TD Asset Management Inc owned about 2.22% of Royal Bank Of Canada worth $5,303,170,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Florida Trust Wealth Management Co raised its position in Royal Bank Of Canada by 2.8% in the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock valued at $373,000 after buying an additional 60 shares during the last quarter. Fiduciary Financial Group LLC grew its stake in 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 purchasing an additional 61 shares in the last quarter. Alta Capital Management LLC grew its stake 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 in the last quarter. EverSource Wealth Advisors LLC grew its stake in Royal Bank Of Canada by 1.6% in the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 74 shares in the last quarter. Finally, Burney Co. grew its stake in Royal Bank Of Canada by 1.7% in the fourth quarter. Burney Co. now owns 4,425 shares of the financial services provider’s stock valued at $754,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on RY. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Stock Performance

RY opened at $191.24 on Thursday. The business has a fifty day simple moving average of $177.06 and a 200 day simple moving average of $169.51. The company has a market capitalization of $267.30 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.50 and a beta of 0.81. Royal Bank Of Canada has a 1 year low of $126.02 and a 1 year high of $192.03. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70.

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 (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.03. The business had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.12 EPS. Research analysts expect that Royal Bank Of Canada will post 11.52 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a $1.76 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.7%. Royal Bank Of Canada’s dividend 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.