Tiaa Fsb reduced its position in Royal Bank of Canada (NYSE: RY – Get a rating) (TSE:RY) by 8.5% in the 1st quarter, HoldingsChannel reports. The company held 12,918 shares of the financial services provider after selling 1,206 shares during the quarter. Tiaa Fsb’s holdings in Royal Bank of Canada were worth $1,424,000 when she was last filed with the Securities & Exchange Commission.
A number of other major investors have also recently changed their holdings in RY. Verition Fund Management LLC purchased a new stake in Royal Bank of Canada in Q3 valued at approximately $248,000. EP Wealth Advisors LLC increased its position in Royal Bank of Canada shares by 1,281.0% during the third quarter. EP Wealth Advisors LLC now owns 28,793 shares of the financial services provider worth $207,000 after buying an additional 26,708 shares last quarter. Captrust Financial Advisors increased its position in Royal Bank of Canada shares by 5.8% during the third quarter. Captrust Financial Advisors now owns 36,615 shares of the financial services provider worth $3,642,000 after buying an additional 2,004 shares last quarter. Colony Group LLC increased its position in Royal Bank of Canada shares by 6.9% during the 3rd quarter. Colony Group LLC now owns 5,511 shares of the financial services provider worth $548,000 after buying 354 additional shares in the last quarter. Finally, HM Payson & Co. increased its position in Royal Bank of Canada shares by 29.0% during the third quarter. HM Payson & Co. now owns 1,002 shares of the financial services provider worth $100,000 after buying 225 more shares last quarter. Hedge funds and other institutional investors own 41.50% of the company’s shares.
A number of research companies have commented on RY. Credit Suisse Group lowered its price target on Royal Bank of Canada shares from C$153.00 to C$152.00 in a Friday, May 27 research report. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Thursday. TD Securities lowered its price target on Royal Bank of Canada shares from C$150.00 to C$145.00 in a Friday, May 27 research note. National Bank Financial raised its price target on Royal Bank of Canada shares from C$147.00 to C$148.00 in a Friday, May 27 research note. Finally, Stifel Nicolaus lowered his price target on Royal Bank of Canada shares from C$152.00 to C$150.00 in a Friday, April 8 research note. Two analysts rated the stock with a sell rating, four gave the company a hold rating and ten gave the company’s stock a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.84.
Royal Bank of Canada Stocks opened at $96.48 on Friday. The company’s 50-day simple moving average is $101.21 and its 200-day simple moving average is $106.99. The company has a market capitalization of $135.41 billion, a P/E ratio of 10.56, a price-to-earnings growth ratio of 2.08 and a beta of 0.90. The company has a debt ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.88. Royal Bank of Canada has a fifty-two week low of $94.23 and a fifty-two week high of $119.41.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 24. Shareholders of record on Tuesday, July 26 will receive a dividend of $0.995. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.94. This represents an annualized dividend of $3.98 and a dividend yield of 4.13%. The ex-dividend date is Monday, July 25. Royal Bank of Canada’s dividend payout ratio (DPR) is 42.01%.
About Royal Bank of Canada (Get a rating)
Royal Bank of Canada is a globally diversified financial services company. The Company’s Personal and Commercial Banking segment offers checking and savings accounts, home equity financing, personal loans, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, commercial products and services to small and medium commercial enterprises.
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