Royal Bank Of Canada $RY Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC cut its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,789 shares of the financial services provider’s stock after selling 3,849 shares during the period. Royal Bank Of Canada makes up about 1.5% of Palisade Asset Management LLC’s portfolio, making the stock its 21st biggest holding. Palisade Asset Management LLC’s holdings in Royal Bank Of Canada were worth $15,489,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Heritage Family Offices LLP bought a new position in shares of Royal Bank Of Canada during the 3rd quarter valued at approximately $25,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Royal Bank Of Canada in the second quarter valued at $28,000. Highland Investment Advisors LLC purchased a new position in shares of Royal Bank Of Canada in the second quarter valued at $31,000. Bell Investment Advisors Inc purchased a new position in shares of Royal Bank Of Canada in the second quarter valued at $32,000. Finally, Continuum Advisory LLC bought a new stake in Royal Bank Of Canada in the second quarter worth $33,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

NYSE:RY opened at $201.06 on Friday. The firm has a market capitalization of $278.27 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.67 and a beta of 0.79. Royal Bank Of Canada has a 1 year low of $143.38 and a 1 year high of $218.57. The business has a 50 day simple moving average of $201.46 and a 200-day simple moving average of $190.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share 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 firm had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $12.98 billion. Equities analysts forecast that Royal Bank Of Canada will post 11.83 EPS for the current year.

Royal Bank Of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be given a C$1.76 dividend. The ex-dividend date is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 43.31%.

Wall Street Analyst Weigh In

RY has been the topic of a number of recent research reports. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. Weiss Ratings reissued a “buy (a-)” rating on shares of Royal Bank Of Canada in a research note on Tuesday, October 27th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Company 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.