Beutel Goodman & Co Ltd. reduced its holdings in shares of Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 9.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,968,237 shares of the financial services provider’s stock after selling 212,009 shares during the quarter. Royal Bank Of Canada makes up about 3.1% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 3rd largest position. Beutel Goodman & Co Ltd.’s holdings in Royal Bank Of Canada were worth $388,088,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Bank of Nova Scotia purchased a new position in Royal Bank Of Canada in the second quarter worth $2,549,157,000. The Manufacturers Life Insurance Company bought a new position in Royal Bank Of Canada in the 2nd quarter valued at $2,296,717,000. Canada Pension Plan Investment Board purchased a new stake in shares of Royal Bank Of Canada during the 2nd quarter valued at $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Royal Bank Of Canada during the 2nd quarter valued at $2,260,820,000. Finally, Legal & General Group Plc purchased a new stake in shares of Royal Bank Of Canada during the 2nd quarter valued at $1,645,758,000. 45.31% of the stock is currently owned by institutional investors.
Royal Bank Of Canada Trading Up 1.4%
NYSE:RY opened at $204.01 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $282.36 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 1.74 and a beta of 0.79. The firm’s 50 day moving average is $201.45 and its 200 day moving average is $190.20. Royal Bank Of Canada has a 12 month low of $144.56 and a 12 month high of $218.57.
Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last posted its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 EPS for the quarter, beating the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. The business had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $12.98 billion. Sell-side analysts expect that Royal Bank Of Canada will post 11.83 earnings per share for the current year.
Royal Bank Of Canada Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be paid a C$1.76 dividend. The ex-dividend date is Monday, October 26th. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. Royal Bank Of Canada’s payout ratio is presently 43.31%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on RY shares. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods assumed coverage on shares of Royal Bank Of Canada in a research report on Friday, August 21st. They set a “market perform” rating for the company. Weiss Ratings restated a “buy (a-)” rating on shares of Royal Bank Of Canada in a research report on Tuesday, October 27th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada has a consensus rating of “Moderate Buy” and an average target price of $225.00.
View Our Latest Stock Analysis on RY
Royal Bank Of Canada Profile
Royal Bank of Canada (RBC) is a diversified financial services company founded in 1864 and headquartered in Toronto, Ontario. It provides personal and commercial banking, wealth management, insurance, investor and treasury services, and capital markets services to individuals, businesses, institutions, and governments.
In Canada, RBC offers banking products such as deposit accounts, loans, mortgages, credit cards, and financial advice. Its wealth management and insurance businesses provide investment, advisory, and protection services, while its capital markets operations serve corporate and institutional clients.
RBC serves customers primarily in Canada and the United States, with additional operations and clients in international markets.
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