Rational Advisors LLC held its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,708 shares of the financial services provider’s stock at the end of the second quarter. Rational Advisors LLC’s holdings in Royal Bank Of Canada were worth $196,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of RY. Wetherby Asset Management Inc. boosted its stake in Royal Bank Of Canada by 8.5% in the first quarter. Wetherby Asset Management Inc. now owns 12,274 shares of the financial services provider’s stock worth $895,000 after buying an additional 958 shares during the last quarter. Conning Inc. boosted its stake in Royal Bank Of Canada by 16.2% in the first quarter. Conning Inc. now owns 6,290 shares of the financial services provider’s stock worth $459,000 after buying an additional 875 shares during the last quarter. Hennessy Advisors Inc. boosted its stake in Royal Bank Of Canada by 69.6% in the first quarter. Hennessy Advisors Inc. now owns 73,100 shares of the financial services provider’s stock worth $5,330,000 after buying an additional 30,000 shares during the last quarter. IFP Advisors Inc boosted its stake in Royal Bank Of Canada by 0.8% in the first quarter. IFP Advisors Inc now owns 51,514 shares of the financial services provider’s stock worth $3,756,000 after buying an additional 397 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Royal Bank Of Canada by 1.5% in the first quarter. Russell Investments Group Ltd. now owns 3,402,273 shares of the financial services provider’s stock worth $247,235,000 after buying an additional 51,825 shares during the last quarter. 45.67% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada (NYSE RY) opened at 73.50 on Tuesday. The company has a 50 day moving average price of $74.08 and a 200 day moving average price of $72.03. Royal Bank Of Canada has a 52 week low of $60.50 and a 52 week high of $76.01. The stock has a market cap of $107.08 billion, a price-to-earnings ratio of 12.55 and a beta of 1.07.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 25th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.08. Royal Bank Of Canada had a net margin of 23.16% and a return on equity of 16.69%. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $6.88 billion. During the same period last year, the company posted $1.66 earnings per share. Analysts expect that Royal Bank Of Canada will post $5.82 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Wednesday, July 26th will be issued a $0.6439 dividend. The ex-dividend date of this dividend is Monday, July 24th. This represents a $2.58 dividend on an annualized basis and a yield of 3.50%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 49.36%.

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A number of research firms have recently weighed in on RY. Canaccord Genuity began coverage on Royal Bank Of Canada in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Zacks Investment Research raised Royal Bank Of Canada from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Wednesday, July 19th. BidaskClub cut Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, May 18th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Royal Bank Of Canada currently has an average rating of “Hold” and a consensus price target of $85.63.

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

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