4,120 Royal Bank Of Canada $RY Shares Sold by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC cut its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 188,662 shares of the financial services provider’s stock after selling 4,120 shares during the period. Royal Bank Of Canada comprises approximately 2.0% of Cardinal Point Capital Management ULC’s investment portfolio, making the stock its 12th biggest position. Cardinal Point Capital Management ULC’s holdings in Royal Bank Of Canada were worth $37,225,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Bank of Nova Scotia acquired a new stake in shares of Royal Bank Of Canada during the 2nd quarter valued at $2,549,157,000. The Manufacturers Life Insurance Company acquired a new position in Royal Bank Of Canada in the 2nd quarter worth about $2,296,717,000. Canada Pension Plan Investment Board acquired a new position in Royal Bank Of Canada in the 2nd quarter worth about $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Royal Bank Of Canada in the second quarter valued at about $2,260,820,000. Finally, Legal & General Group Plc bought a new position in Royal Bank Of Canada in the second quarter valued at about $1,645,758,000. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RY has been the topic of a number of recent research reports. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. Keefe, Bruyette & Woods began coverage on shares of Royal Bank Of Canada in a report on Friday, August 21st. They issued a “market perform” rating for the company. Finally, TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Stock Up 1.4%

Shares of NYSE:RY opened at $201.85 on Thursday. The firm has a market cap of $279.36 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.78 and a beta of 0.80. Royal Bank Of Canada has a 12-month low of $143.38 and a 12-month high of $218.57. The business has a fifty day simple moving average of $202.80 and a 200 day simple moving average of $197.41. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.18. The firm had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. Analysts predict that Royal Bank Of Canada will post 11.83 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be paid a C$1.76 dividend. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, October 26th. Royal Bank Of Canada’s payout ratio is currently 43.39%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC’s personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.