Royal Bank Of Canada $RY Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lowered its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 15.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,893 shares of the financial services provider’s stock after selling 2,756 shares during the quarter. Park Avenue Securities LLC’s holdings in Royal Bank Of Canada were worth $2,928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RY. Bank of Nova Scotia acquired a new stake in Royal Bank Of Canada in the 2nd quarter valued at about $2,549,157,000. The Manufacturers Life Insurance Company purchased a new position in Royal Bank Of Canada during the 2nd quarter valued at about $2,296,717,000. Canada Pension Plan Investment Board acquired a new position in Royal Bank Of Canada during the second quarter worth about $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Royal Bank Of Canada during the second quarter worth about $2,260,820,000. Finally, Legal & General Group Plc purchased a new stake in shares of Royal Bank Of Canada in the second quarter valued at about $1,645,758,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RY shares. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. Keefe, Bruyette & Woods assumed coverage on Royal Bank Of Canada in a research note on Friday, August 21st. They issued a “market perform” rating on the stock. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Trading Down 1.4%

Shares of RY stock opened at $203.05 on Friday. The firm has a 50-day moving average price of $201.57 and a 200 day moving average price of $189.12. Royal Bank Of Canada has a twelve month low of $143.38 and a twelve month high of $218.57. The company has a market capitalization of $281.02 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 1.85 and a beta of 0.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.18. The company had revenue of $13.22 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. Research analysts forecast that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be issued a C$1.76 dividend. The ex-dividend date is Monday, October 26th. This represents a $7.04 annualized dividend and a yield of 3.5%. Royal Bank Of Canada’s payout ratio is 43.31%.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC’s personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.