First Trust Advisors LP Has $51.52 Million Stock Position in Royal Bank Of Canada $RY

First Trust Advisors LP lowered its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 11.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,668 shares of the financial services provider’s stock after selling 45,973 shares during the quarter. First Trust Advisors LP’s holdings in Royal Bank Of Canada were worth $51,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 575 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Royal Bank Of Canada by 60.9% during the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock valued at $1,321,000 after acquiring an additional 4,460 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Royal Bank Of Canada by 57.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after acquiring an additional 1,934 shares in the last quarter. Savant Capital LLC lifted its position in shares of Royal Bank Of Canada by 37.8% in the 2nd quarter. Savant Capital LLC now owns 11,590 shares of the financial services provider’s stock valued at $1,525,000 after acquiring an additional 3,179 shares in the last quarter. Finally, Fox Run Management L.L.C. boosted its stake in Royal Bank Of Canada by 58.2% in the 2nd quarter. Fox Run Management L.L.C. now owns 3,158 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 1,162 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Down 0.2%

RY stock opened at $165.07 on Thursday. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $176.19. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.09. The company has a market cap of $230.72 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.25 and a beta of 0.79. The company has a 50 day moving average of $169.11 and a two-hundred day moving average of $157.55.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The business had revenue of $13.18 billion for the quarter, compared to analysts’ expectations of $12.60 billion. During the same period in the previous year, the company posted $3.62 EPS. Royal Bank Of Canada’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be paid a $1.64 dividend. The ex-dividend date is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 4.0%. Royal Bank Of Canada’s payout ratio is 45.93%.

Wall Street Analysts Forecast Growth

RY has been the topic of several recent analyst reports. BMO Capital Markets reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Wednesday, December 17th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. National Bank Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. Finally, Jefferies Financial Group downgraded Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Royal Bank Of Canada has an average rating of “Moderate Buy” and a consensus target price 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.