Hsbc Holdings PLC Trims Stock Position in Royal Bank Of Canada $RY

Hsbc Holdings PLC lessened its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 119,704 shares of the financial services provider’s stock after selling 5,120 shares during the period. Hsbc Holdings PLC’s holdings in Royal Bank Of Canada were worth $19,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of RY. Brighton Jones LLC increased its holdings 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 purchasing an additional 575 shares during the period. AQR Capital Management LLC boosted its stake in 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 buying an additional 4,460 shares during the period. Sivia Capital Partners LLC boosted its stake in Royal Bank Of Canada by 57.7% during the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after buying an additional 1,934 shares during the period. Baird Financial Group Inc. grew its position in Royal Bank Of Canada by 39.1% during the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock worth $1,783,000 after buying an additional 3,811 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Royal Bank Of Canada by 9.0% during the second quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock worth $6,279,000 after buying an additional 3,928 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RY has been the topic of several recent analyst reports. Argus set a $225.00 price target on Royal Bank Of Canada in a report on Thursday, June 11th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a report 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 report on Tuesday, May 12th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Trading Up 0.3%

Shares of RY stock opened at $210.99 on Wednesday. The business has a 50-day moving average price of $199.29 and a two-hundred day moving average price of $180.06. Royal Bank Of Canada has a 12-month low of $127.38 and a 12-month high of $218.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The firm has a market cap of $292.56 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 1.67 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.12 EPS. Equities analysts anticipate 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. Shareholders of record on Monday, July 27th will be paid a $1.76 dividend. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is currently 44.47%.

Royal Bank Of Canada Profile

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.