Royal Bank of Canada (NYSE:RY) Position Trimmed by Deutsche Bank AG

Deutsche Bank AG trimmed its position in Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,235,010 shares of the financial services provider’s stock after selling 43,685 shares during the quarter. Deutsche Bank AG’s holdings in Royal Bank of Canada were worth $119,574,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CIBC Private Wealth Group LLC lifted its stake in shares of Royal Bank of Canada by 185.6% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 277 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 180 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Royal Bank of Canada by 56.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 290 shares of the financial services provider’s stock worth $28,000 after buying an additional 105 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Royal Bank of Canada in the 2nd quarter worth about $29,000. Venture Visionary Partners LLC acquired a new stake in shares of Royal Bank of Canada during the second quarter worth approximately $33,000. Finally, Win Advisors Inc. increased its stake in shares of Royal Bank of Canada by 70.3% in the second quarter. Win Advisors Inc. now owns 356 shares of the financial services provider’s stock valued at $35,000 after buying an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 40.46% of the company’s stock.

Royal Bank of Canada Stock Down 0.2 %

Shares of NYSE RY opened at $99.13 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.89. Royal Bank of Canada has a 52-week low of $83.63 and a 52-week high of $119.41. The stock has a 50 day moving average price of $92.94 and a 200 day moving average price of $96.24. The firm has a market capitalization of $137.41 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 2.37 and a beta of 0.82.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 24th. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.01. The business had revenue of $9.43 billion for the quarter. Royal Bank of Canada had a return on equity of 16.85% and a net margin of 26.29%. Sell-side analysts expect that Royal Bank of Canada will post 8.41 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Investors of record on Wednesday, October 26th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 4.04%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, October 25th. Royal Bank of Canada’s payout ratio is presently 42.68%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RY shares. Canaccord Genuity Group cut their target price on shares of Royal Bank of Canada from C$134.00 to C$131.50 and set a “hold” rating on the stock in a research report on Thursday, August 18th. Credit Suisse Group decreased their target price on shares of Royal Bank of Canada from C$144.00 to C$143.00 in a research report on Thursday, August 25th. National Bank Financial boosted their target price on Royal Bank of Canada from C$147.00 to C$148.00 in a report on Thursday, August 25th. Keefe, Bruyette & Woods downgraded Royal Bank of Canada from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from C$132.00 to C$118.00 in a report on Monday, August 8th. Finally, StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $139.81.

Royal Bank of Canada Company Profile

(Get Rating)

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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