Royal Bank of Canada (RY) Stake Decreased by Scheer Rowlett & Associates Investment Management Ltd.

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Scheer Rowlett & Associates Investment Management Ltd. decreased its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.1% in the first quarter, HoldingsChannel reports. The firm owned 2,136,740 shares of the financial services provider’s stock after selling 67,826 shares during the quarter. Royal Bank of Canada accounts for approximately 11.2% of Scheer Rowlett & Associates Investment Management Ltd.’s investment portfolio, making the stock its largest holding. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Royal Bank of Canada were worth $161,253,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RY. CWM LLC grew its position in Royal Bank of Canada by 86.8% in the first quarter. CWM LLC now owns 409 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 190 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in Royal Bank of Canada in the fourth quarter worth about $38,000. Oppenheimer Asset Management Inc. purchased a new position in Royal Bank of Canada in the fourth quarter worth about $38,000. WP Advisors LLC purchased a new position in Royal Bank of Canada in the first quarter worth about $38,000. Finally, Executive Wealth Management LLC purchased a new position in Royal Bank of Canada in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 42.23% of the company’s stock.

NYSE RY traded down $0.19 during trading on Tuesday, hitting $78.05. The stock had a trading volume of 14,340 shares, compared to its average volume of 904,778. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $112.34 billion, a P/E ratio of 11.94, a PEG ratio of 1.95 and a beta of 1.11. Royal Bank of Canada has a one year low of $65.76 and a one year high of $81.56.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Friday, February 22nd. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.01). Royal Bank of Canada had a return on equity of 17.52% and a net margin of 20.85%. The firm had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same period in the previous year, the business earned $2.01 EPS. As a group, equities research analysts expect that Royal Bank of Canada will post 6.69 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a dividend of $0.7704 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Wednesday, April 24th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.75. Royal Bank of Canada’s payout ratio is currently 46.86%.

Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Desjardins reissued a “buy” rating and issued a $111.00 price objective on shares of Royal Bank of Canada in a research note on Thursday, May 16th. Barclays reissued a “sell” rating on shares of Royal Bank of Canada in a research note on Friday. Canaccord Genuity reissued a “hold” rating on shares of Royal Bank of Canada in a research note on Friday, February 22nd. Finally, Scotiabank reissued an “average” rating and issued a $111.00 price objective on shares of Royal Bank of Canada in a research note on Friday, February 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $99.25.

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Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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

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