Lincluden Management Ltd. Sells 51,926 Shares of Royal Bank Of Canada $RY

Lincluden Management Ltd. trimmed its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 10.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 443,782 shares of the financial services provider’s stock after selling 51,926 shares during the period. Royal Bank Of Canada accounts for approximately 7.4% of Lincluden Management Ltd.’s portfolio, making the stock its 2nd largest position. Lincluden Management Ltd.’s holdings in Royal Bank Of Canada were worth $65,020,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Laird Norton Wetherby Wealth Management LLC grew its holdings in shares of Royal Bank Of Canada by 0.5% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 28,700 shares of the financial services provider’s stock worth $4,228,000 after buying an additional 148 shares during the last quarter. Larson Financial Group LLC raised its stake in Royal Bank Of Canada by 52.5% during the 3rd quarter. Larson Financial Group LLC now owns 738 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 254 shares during the last quarter. Lido Advisors LLC purchased a new stake in Royal Bank Of Canada during the 3rd quarter valued at approximately $264,000. Integrated Wealth Concepts LLC lifted its position in Royal Bank Of Canada by 5.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 6,777 shares of the financial services provider’s stock worth $998,000 after acquiring an additional 363 shares during the period. Finally, Focus Partners Wealth grew its stake in shares of Royal Bank Of Canada by 1.6% in the 3rd quarter. Focus Partners Wealth now owns 200,539 shares of the financial services provider’s stock valued at $29,544,000 after purchasing an additional 3,126 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Raymond James Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, February 13th. TD Securities raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. UBS Group reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Tuesday, November 25th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Thursday, January 22nd. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Stock Up 1.6%

RY opened at $163.91 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $176.19. The stock has a market capitalization of $229.10 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.22 and a beta of 0.79. The business has a 50 day simple moving average of $168.58 and a 200-day simple moving average of $158.12.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The firm had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. During the same quarter in the prior year, the company posted $3.62 earnings per share. Royal Bank Of Canada’s quarterly 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 business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 45.74%.

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.