Royal Bank Of Canada (NYSE:RY) Stake Decreased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,726 shares of the financial services provider’s stock after selling 1,009 shares during the period. Oppenheimer & Co. Inc.’s holdings in Royal Bank Of Canada were worth $1,949,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in RY. Stratos Wealth Partners LTD. increased its stake in Royal Bank Of Canada by 1.0% in the first quarter. Stratos Wealth Partners LTD. now owns 3,874 shares of the financial services provider’s stock worth $282,000 after buying an additional 37 shares during the period. Brown Advisory Inc. boosted its position in Royal Bank Of Canada by 0.9% in the fourth quarter. Brown Advisory Inc. now owns 4,362 shares of the financial services provider’s stock valued at $295,000 after buying an additional 40 shares in the last quarter. Parallel Advisors LLC boosted its position in Royal Bank Of Canada by 2.4% in the first quarter. Parallel Advisors LLC now owns 4,073 shares of the financial services provider’s stock valued at $276,000 after buying an additional 97 shares in the last quarter. Trust Department MB Financial Bank N A boosted its position in Royal Bank Of Canada by 1.1% in the first quarter. Trust Department MB Financial Bank N A now owns 13,953 shares of the financial services provider’s stock valued at $1,017,000 after buying an additional 153 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in Royal Bank Of Canada by 3.0% in the first quarter. Checchi Capital Advisers LLC now owns 5,372 shares of the financial services provider’s stock valued at $392,000 after buying an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 45.87% of the company’s stock.

Royal Bank Of Canada (NYSE:RY) traded up 0.65% on Friday, reaching $73.80. The company had a trading volume of 1,042,671 shares. The stock has a market capitalization of $107.52 billion, a P/E ratio of 13.06 and a beta of 1.07. Royal Bank Of Canada has a 12-month low of $58.21 and a 12-month high of $76.01. The stock’s 50-day moving average price is $69.84 and its 200-day moving average price is $70.97.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 25th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.34 by $0.08. Royal Bank Of Canada had a return on equity of 16.69% and a net margin of 23.16%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $6.88 billion. During the same quarter last year, the company earned $1.66 EPS. On average, equities research analysts anticipate that Royal Bank Of Canada will post $5.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Wednesday, July 26th will be given a dividend of $0.6439 per share. The ex-dividend date is Monday, July 24th. This represents a $2.58 dividend on an annualized basis and a dividend yield of 3.49%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 48.07%.

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Several equities analysts recently weighed in on RY shares. Zacks Investment Research cut shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. TheStreet cut shares of Royal Bank Of Canada from a “b-” rating to a “c+” rating in a research report on Tuesday, March 21st. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, May 18th. BidaskClub raised shares of Royal Bank Of Canada from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Finally, TD Securities cut shares of Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research report on Monday, April 3rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $85.63.

About Royal Bank Of Canada

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

Institutional Ownership by Quarter for Royal Bank Of Canada (NYSE:RY)

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