J. Safra Sarasin Holding AG Reduces Position in Royal Bank Of Canada $RY

J. Safra Sarasin Holding AG decreased its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 29.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 399,088 shares of the financial services provider’s stock after selling 169,390 shares during the period. J. Safra Sarasin Holding AG’s holdings in Royal Bank Of Canada were worth $58,831,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RY. Toth Financial Advisory Corp purchased a new position in Royal Bank Of Canada in the 3rd quarter valued at approximately $29,000. True Wealth Design LLC purchased a new position in shares of Royal Bank Of Canada in the third quarter valued at $31,000. CoreCap Advisors LLC raised its stake in shares of Royal Bank Of Canada by 103.8% during the 3rd quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 138 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Royal Bank Of Canada by 86.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 180 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Royal Bank Of Canada in the 2nd quarter worth about $51,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Down 1.5%

RY opened at $167.22 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $164.43 and its 200 day simple moving average is $149.61. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $174.61. The stock has a market cap of $233.69 billion, a PE ratio of 16.67, a P/E/G ratio of 1.22 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, beating the consensus estimate of $2.51 by $0.25. The firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $12.12 billion. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The company’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the company earned $3.07 EPS. As a group, research analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.9%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date of this dividend is Monday, January 26th. Royal Bank Of Canada’s payout ratio is 44.07%.

Wall Street Analyst Weigh In

RY has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday. Raymond James Financial started coverage on shares of Royal Bank Of Canada in a report on Monday, November 24th. They issued a “moderate buy” rating for the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. TD Securities raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

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.