Janney Montgomery Scott LLC Reduces Stock Position in Royal Bank Of Canada $RY

by · The Markets Daily

Janney Montgomery Scott LLC lessened its stake in Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 4.0% in the first quarter, HoldingsChannel reports. The firm owned 74,617 shares of the financial services provider’s stock after selling 3,080 shares during the period. Janney Montgomery Scott LLC’s holdings in Royal Bank Of Canada were worth $12,072,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of RY. HighTower Advisors LLC boosted its position in Royal Bank Of Canada by 18.5% in the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after purchasing an additional 15,046 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Royal Bank Of Canada by 6.1% in the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after purchasing an additional 368,534 shares during the period. Rathbones Group PLC boosted its holdings in shares of Royal Bank Of Canada by 9.0% in the fourth quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock worth $55,480,000 after buying an additional 26,782 shares during the last quarter. Legal & General Group Plc grew its position in Royal Bank Of Canada by 3.6% during the third quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock valued at $1,219,924,000 after buying an additional 287,504 shares during the period. Finally, Indivisible Partners purchased a new stake in Royal Bank Of Canada during the fourth quarter valued at approximately $7,335,000. 45.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RY has been the subject of a number of recent research reports. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Weiss Ratings cut Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday. Argus set a $225.00 price objective on Royal Bank Of Canada in a research report on Thursday, June 11th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Get Our Latest Stock Analysis on Royal Bank Of Canada

Royal Bank Of Canada Trading Up 0.6%

Shares of Royal Bank Of Canada stock opened at $208.18 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. The company has a fifty day moving average of $190.34 and a 200 day moving average of $175.99. The company has a market capitalization of $289.32 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.64 and a beta of 0.79. Royal Bank Of Canada has a fifty-two week low of $127.38 and a fifty-two week high of $209.37.

Royal Bank Of Canada (NYSE:RY – Get Free Report) (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 business had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.12 earnings per share. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared 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 represents a $7.04 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio is currently 42.41%.

Royal Bank Of Canada Profile

(Free Report)

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.

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