Baskin Financial Services Inc. increased its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,045 shares of the financial services provider’s stock after buying an additional 2,624 shares during the period. Baskin Financial Services Inc.’s holdings in Royal Bank Of Canada were worth $5,714,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in RY. Quadrant Capital Group LLC lifted its holdings in Royal Bank Of Canada by 4.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,709 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 65 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in Royal Bank Of Canada by 1.2% in the 2nd quarter. Proficio Capital Partners LLC now owns 2,124 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 26 shares in the last quarter. Jolley Asset Management LLC lifted its holdings in Royal Bank Of Canada by 1.0% in the 2nd quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 25 shares in the last quarter. Asset Advisors Corp purchased a new position in Royal Bank Of Canada in the 3rd quarter valued at about $178,000. Finally, Mckinley Capital Management LLC Delaware purchased a new position in Royal Bank Of Canada in the 2nd quarter valued at about $191,000. Institutional investors and hedge funds own 40.62% of the company’s stock.
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RY has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Royal Bank Of Canada from a “sell” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Wednesday, August 9th. BidaskClub upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Canaccord Genuity started coverage on Royal Bank Of Canada in a report on Tuesday, July 18th. They issued a “hold” rating for the company. Scotiabank cut Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report on Monday, August 21st. Finally, Howard Weil cut Royal Bank Of Canada to a “sector perform” rating in a report on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $80.00.
Royal Bank Of Canada (NYSE:RY) opened at $78.45 on Wednesday. Royal Bank Of Canada has a one year low of $63.53 and a one year high of $80.98. The stock has a market capitalization of $114,797.72, a price-to-earnings ratio of 14.24, a P/E/G ratio of 2.17 and a beta of 1.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.89 and a current ratio of 0.89.
Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.42 by ($0.01). The company had revenue of $7.43 billion during the quarter, compared to analyst estimates of $7.11 billion. Royal Bank Of Canada had a return on equity of 16.63% and a net margin of 22.98%. During the same period in the prior year, the business earned $1.72 earnings per share. analysts predict that Royal Bank Of Canada will post 6.03 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, October 26th will be issued a dividend of $0.724 per share. This represents a $2.90 dividend on an annualized basis and a dividend yield of 3.69%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $0.64. The ex-dividend date is Wednesday, October 25th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 52.54%.
Royal Bank Of Canada Profile
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.
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