Royal Bank Of Canada $RY Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 93.4% in the 4th quarter, Holdings Channel reports. The firm owned 124,824 shares of the financial services provider’s stock after selling 1,756,271 shares during the quarter. Hsbc Holdings PLC’s holdings in Royal Bank Of Canada were worth $21,352,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. HighTower Advisors LLC boosted its position in shares of Royal Bank Of Canada by 18.5% during the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after buying an additional 15,046 shares during the period. Fisher Asset Management LLC increased its position in Royal Bank Of Canada by 6.1% in the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock valued at $1,086,601,000 after acquiring an additional 368,534 shares during the period. Rathbones Group PLC raised its stake in Royal Bank Of Canada by 9.0% during the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock valued at $55,480,000 after acquiring an additional 26,782 shares in the last quarter. Legal & General Group Plc raised its stake in Royal Bank Of Canada by 3.6% during the 3rd quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock valued at $1,219,924,000 after acquiring an additional 287,504 shares in the last quarter. Finally, APG Asset Management N.V. boosted its position in Royal Bank Of Canada by 0.8% during the 3rd quarter. APG Asset Management N.V. now owns 919,463 shares of the financial services provider’s stock worth $135,455,000 after acquiring an additional 7,400 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Performance

Shares of NYSE RY opened at $202.31 on Thursday. The stock has a fifty day moving average price of $187.51 and a two-hundred day moving average price of $174.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 0.82. The firm has a market cap of $281.16 billion, a P/E ratio of 18.18, a PEG ratio of 1.61 and a beta of 0.81. Royal Bank Of Canada has a 1 year low of $127.38 and a 1 year high of $203.55.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the previous year, the business earned $3.12 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Research analysts forecast that Royal Bank Of Canada will post 11.45 EPS 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 issued a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, July 27th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio is presently 42.41%.

Wall Street Analysts Forecast Growth

RY has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce reissued a “neutral” 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. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. Finally, TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

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.