Royal Bank Of Canada $RY Stock Holdings Lowered by MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd lessened its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 311,515 shares of the financial services provider’s stock after selling 7,988 shares during the quarter. Royal Bank Of Canada makes up 7.8% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s portfolio, making the stock its biggest position. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s holdings in Royal Bank Of Canada were worth $61,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RY. Bank of Nova Scotia acquired a new position in shares of Royal Bank Of Canada in the second quarter valued at approximately $2,549,157,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Royal Bank Of Canada during the second quarter worth $2,296,717,000. Canada Pension Plan Investment Board acquired a new stake in shares of Royal Bank Of Canada during the second quarter worth $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Royal Bank Of Canada in the 2nd quarter valued at $2,260,820,000. Finally, Legal & General Group Plc bought a new stake in Royal Bank Of Canada in the 2nd quarter valued at $1,645,758,000. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of research reports. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. Keefe, Bruyette & Woods started coverage on Royal Bank Of Canada in a report on Friday, August 21st. They issued a “market perform” rating on the stock. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Royal Bank Of Canada in a research report on Tuesday. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $204.64 on Thursday. The firm has a 50-day moving average of $201.65 and a 200-day moving average of $188.77. Royal Bank Of Canada has a one year low of $143.38 and a one year high of $218.57. The company has a market cap of $283.21 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.80 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81.

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

Royal Bank Of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be given a C$1.76 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio is presently 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.