Davis Rea Ltd. cut its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,211 shares of the financial services provider’s stock after selling 226 shares during the period. Royal Bank Of Canada accounts for approximately 3.6% of Davis Rea Ltd.’s portfolio, making the stock its 12th largest position. Davis Rea Ltd.’s holdings in Royal Bank Of Canada were worth $5,747,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RY. TD Asset Management Inc. raised its stake in shares of Royal Bank Of Canada by 1.5% in the second quarter. TD Asset Management Inc. now owns 41,292,901 shares of the financial services provider’s stock valued at $2,993,842,000 after buying an additional 594,708 shares during the period. FMR LLC raised its stake in shares of Royal Bank Of Canada by 1.9% in the first quarter. FMR LLC now owns 32,153,083 shares of the financial services provider’s stock valued at $2,342,604,000 after buying an additional 596,315 shares during the period. Vanguard Group Inc. raised its stake in shares of Royal Bank Of Canada by 4.6% in the first quarter. Vanguard Group Inc. now owns 31,678,190 shares of the financial services provider’s stock valued at $2,309,657,000 after buying an additional 1,402,437 shares during the period. Bank of Nova Scotia raised its stake in shares of Royal Bank Of Canada by 0.9% in the first quarter. Bank of Nova Scotia now owns 26,959,386 shares of the financial services provider’s stock valued at $1,964,276,000 after buying an additional 235,793 shares during the period. Finally, Beutel Goodman & Co Ltd. raised its stake in shares of Royal Bank Of Canada by 3.9% in the first quarter. Beutel Goodman & Co Ltd. now owns 18,815,431 shares of the financial services provider’s stock valued at $1,368,526,000 after buying an additional 698,500 shares during the period. 45.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Royal Bank Of Canada (RY) opened at 74.23 on Thursday. Royal Bank Of Canada has a 12-month low of $60.50 and a 12-month high of $76.01. The firm’s 50-day moving average is $73.87 and its 200-day moving average is $71.99. The company has a market capitalization of $108.15 billion, a price-to-earnings ratio of 12.68 and a beta of 1.07.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 25th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $6.88 billion. During the same period last year, the business earned $1.66 earnings per share. On average, equities analysts predict that Royal Bank Of Canada will post $5.87 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Wednesday, July 26th will be issued a $0.6439 dividend. This represents a $2.58 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Monday, July 24th. Royal Bank Of Canada’s dividend payout ratio is 49.36%.

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Several equities research analysts recently issued reports on the stock. Canaccord Genuity assumed coverage on shares of Royal Bank Of Canada in a report on Tuesday, July 18th. They set a “hold” rating on the stock. Zacks Investment Research raised shares of Royal Bank Of Canada from a “sell” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Wednesday. BidaskClub lowered shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, May 18th. Three 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. Royal Bank Of Canada currently has an average rating of “Hold” and a consensus target price of $85.63.

About Royal Bank Of Canada

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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