Bank of New York Mellon Corp Sells 27,068 Shares of Royal Bank Of Canada $RY

Bank of New York Mellon Corp cut its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,310,064 shares of the financial services provider’s stock after selling 27,068 shares during the quarter. Bank of New York Mellon Corp’s holdings in Royal Bank Of Canada were worth $223,353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in shares of Royal Bank Of Canada by 2.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 344,993 shares of the financial services provider’s stock worth $50,824,000 after purchasing an additional 7,278 shares during the period. HighTower Advisors LLC increased its holdings in shares of Royal Bank Of Canada by 18.5% in the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after purchasing an additional 15,046 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Royal Bank Of Canada by 6.1% in the fourth quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after purchasing an additional 368,534 shares during the period. Rathbones Group PLC increased its holdings in shares of Royal Bank Of Canada by 9.0% in the fourth quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock worth $55,480,000 after purchasing an additional 26,782 shares during the period. Finally, Legal & General Group Plc grew its position in Royal Bank Of Canada by 3.6% in the third quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock worth $1,219,924,000 after acquiring an additional 287,504 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RY shares. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Trading Down 0.4%

NYSE:RY opened at $194.25 on Friday. The company’s 50 day moving average price is $178.35 and its 200-day moving average price is $170.02. Royal Bank Of Canada has a 52 week low of $126.02 and a 52 week high of $195.53. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The stock has a market cap of $269.95 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.54 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) 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 17.83%. The company had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter last year, the company posted $3.12 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities research analysts forecast that Royal Bank Of Canada will post 11.52 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a $1.76 dividend. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is 42.41%.

Royal Bank Of Canada 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.