O Shaughnessy Asset Management LLC Reduces Stock Position in Royal Bank Of Canada $RY

O Shaughnessy Asset Management LLC lowered its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 5.8% during the 4th quarter, HoldingsChannel reports. The firm owned 292,018 shares of the financial services provider’s stock after selling 18,091 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Royal Bank Of Canada were worth $49,785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd purchased a new position in shares of Royal Bank Of Canada during the 4th quarter worth $25,000. Tradewinds Capital Management LLC purchased a new position in shares of Royal Bank Of Canada during the 4th quarter worth $26,000. Johnson Financial Group Inc. purchased a new position in shares of Royal Bank Of Canada during the 3rd quarter worth $27,000. Highline Wealth Partners LLC boosted its stake in shares of Royal Bank Of Canada by 75.4% during the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Royal Bank Of Canada by 55.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 0.1%

RY opened at $194.25 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. Royal Bank Of Canada has a fifty-two week low of $126.02 and a fifty-two week high of $195.53. The firm’s fifty day moving average is $178.35 and its 200 day moving average is $170.19. The stock has a market cap of $269.96 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company earned $3.12 EPS. Royal Bank Of Canada’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side 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 company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a dividend of $1.76 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 3.6%. Royal Bank Of Canada’s dividend payout ratio is presently 42.41%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RY shares. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 1st. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Raymond James Financial cut shares of 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, June 1st. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.00.

About Royal Bank Of Canada

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.