Royal Bank Of Canada $RY Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 21,618,422 shares of the financial services provider’s stock after selling 767,493 shares during the period. Royal Bank Of Canada accounts for approximately 3.9% of Mackenzie Financial Corp’s investment portfolio, making the stock its biggest position. Mackenzie Financial Corp owned 1.54% of Royal Bank Of Canada worth $3,185,611,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Royal Bank Of Canada by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock worth $9,777,472,000 after acquiring an additional 1,329,637 shares during the last quarter. Norges Bank bought a new position in Royal Bank Of Canada in the second quarter valued at about $2,599,262,000. Canerector Inc. boosted its stake in shares of Royal Bank Of Canada by 20,412.0% during the third quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock valued at $1,964,188,000 after purchasing an additional 13,267,800 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Royal Bank Of Canada by 20.2% during the second quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock valued at $1,517,123,000 after purchasing an additional 1,910,492 shares in the last quarter. Finally, Scotia Capital Inc. grew its holdings in shares of Royal Bank Of Canada by 1.6% during the second quarter. Scotia Capital Inc. now owns 9,065,967 shares of the financial services provider’s stock worth $1,191,770,000 after purchasing an additional 141,761 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Shares of RY opened at $165.39 on Wednesday. The business has a 50-day moving average of $169.22 and a 200-day moving average of $157.49. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $231.17 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.79. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $176.19.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its 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. The business had revenue of $13.18 billion for the quarter, compared to analysts’ expectations of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.62 earnings per share. As a group, equities research analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be given a $1.64 dividend. The ex-dividend date is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.0%. Royal Bank Of Canada’s payout ratio is 45.74%.

Analyst Ratings Changes

RY has been the subject of several recent research reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Wednesday, December 17th. National Bank Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, December 4th. TD Securities upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. UBS Group reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Tuesday, November 25th. Finally, Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.