Mufg Securities Canada LTD. Decreases Stake in Royal Bank Of Canada $RY

Mufg Securities Canada LTD. cut its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,137,220 shares of the financial services provider’s stock after selling 189,003 shares during the quarter. Royal Bank Of Canada accounts for about 10.1% of Mufg Securities Canada LTD.’s portfolio, making the stock its largest position. Mufg Securities Canada LTD. owned about 0.15% of Royal Bank Of Canada worth $364,431,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HighTower Advisors LLC boosted its position in Royal Bank Of Canada by 18.5% during the 4th quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after buying an additional 15,046 shares during the period. Rathbones Group PLC boosted its position in Royal Bank Of Canada by 9.0% during the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock worth $55,480,000 after buying an additional 26,782 shares during the period. Fisher Asset Management LLC boosted its position in Royal Bank Of Canada by 6.1% during the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after buying an additional 368,534 shares during the period. Legal & General Group Plc boosted its position in Royal Bank Of Canada by 3.6% during the 3rd quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock worth $1,219,924,000 after buying an additional 287,504 shares during the period. Finally, Fiera Capital Corp boosted its position in Royal Bank Of Canada by 2.1% during the 3rd quarter. Fiera Capital Corp now owns 4,854,424 shares of the financial services provider’s stock worth $715,227,000 after buying an additional 99,966 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Stock Up 0.0%

Shares of NYSE RY opened at $199.58 on Monday. The company has a market capitalization of $277.37 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 1.57 and a beta of 0.81. Royal Bank Of Canada has a 52-week low of $126.02 and a 52-week high of $201.74. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The company’s 50 day moving average price is $182.12 and its 200-day moving average price is $171.91.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.12 EPS. Equities analysts forecast that Royal Bank Of Canada will post 11.52 earnings per share for the current 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 given a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, July 27th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio is presently 42.41%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research report on Thursday. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. 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.com, Royal Bank Of Canada has a consensus rating of “Moderate Buy” and an average price target of $225.00.

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.