Royal Bank of Canada (NYSE:RY) Position Lessened by XTX Topco Ltd

XTX Topco Ltd reduced its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 45.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,091 shares of the financial services provider’s stock after selling 4,262 shares during the quarter. XTX Topco Ltd’s holdings in Royal Bank of Canada were worth $542,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RY. Shell Asset Management Co. increased its holdings in shares of Royal Bank of Canada by 3.8% in the 1st quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 100 shares during the period. HB Wealth Management LLC increased its stake in shares of Royal Bank of Canada by 1.9% in the second quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 100 shares during the period. Muirfield Wealth Advisors LLC raised its holdings in shares of Royal Bank of Canada by 0.6% during the second quarter. Muirfield Wealth Advisors LLC now owns 16,437 shares of the financial services provider’s stock valued at $1,749,000 after buying an additional 101 shares during the last quarter. Sollinda Capital Management LLC boosted its position in shares of Royal Bank of Canada by 2.8% during the second quarter. Sollinda Capital Management LLC now owns 3,674 shares of the financial services provider’s stock worth $391,000 after buying an additional 101 shares during the period. Finally, Certuity LLC grew its holdings in Royal Bank of Canada by 5.1% in the 2nd quarter. Certuity LLC now owns 2,177 shares of the financial services provider’s stock worth $232,000 after buying an additional 106 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. UBS Group began coverage on shares of Royal Bank of Canada in a research report on Tuesday, July 2nd. They issued a “buy” rating for the company. BMO Capital Markets raised their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Argus upped their price target on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Trading Up 1.0 %

Shares of RY stock opened at $123.16 on Tuesday. The stock has a 50-day simple moving average of $115.10 and a 200 day simple moving average of $107.36. The stock has a market capitalization of $174.28 billion, a P/E ratio of 15.28, a P/E/G ratio of 2.00 and a beta of 0.86. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $124.46. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The company had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. On average, sell-side analysts expect that Royal Bank of Canada will post 8.97 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a dividend of $1.028 per share. The ex-dividend date is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.34%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 52.11%.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.