Sii Investments Inc. WI cut its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 14.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,936 shares of the financial services provider’s stock after selling 675 shares during the quarter. Sii Investments Inc. WI’s holdings in Royal Bank Of Canada were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. TD Asset Management Inc. lifted its position in Royal Bank Of Canada by 1.5% during 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 purchasing an additional 594,708 shares during the last quarter. Vanguard Group Inc. lifted its position in Royal Bank Of Canada by 4.1% during the second quarter. Vanguard Group Inc. now owns 32,981,480 shares of the financial services provider’s stock valued at $2,391,817,000 after purchasing an additional 1,303,290 shares during the last quarter. Bank of Nova Scotia lifted its position in Royal Bank Of Canada by 0.9% during 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 purchasing an additional 235,793 shares during the last quarter. Capital Research Global Investors lifted its position in Royal Bank Of Canada by 3.8% during the second quarter. Capital Research Global Investors now owns 11,683,000 shares of the financial services provider’s stock valued at $848,297,000 after purchasing an additional 425,000 shares during the last quarter. Finally, Mawer Investment Management Ltd. lifted its position in Royal Bank Of Canada by 0.4% during the second quarter. Mawer Investment Management Ltd. now owns 4,959,421 shares of the financial services provider’s stock valued at $359,312,000 after purchasing an additional 19,348 shares during the last quarter. Institutional investors and hedge funds own 40.64% of the company’s stock.

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RY has been the subject of several research analyst reports. BidaskClub upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research report on Wednesday, July 19th. Canaccord Genuity initiated coverage on shares of Royal Bank Of Canada in a research report on Tuesday, July 18th. They set a “hold” rating for the company. Howard Weil lowered shares of Royal Bank Of Canada to a “sector perform” rating in a research report on Monday, August 21st. Finally, Scotiabank lowered shares of Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $80.00.

Shares of Royal Bank Of Canada (NYSE:RY) opened at 78.25 on Friday. The company has a market capitalization of $114.08 billion, a price-to-earnings ratio of 12.99 and a beta of 1.06. The stock has a 50 day moving average of $75.47 and a 200-day moving average of $72.60. Royal Bank Of Canada has a one year low of $60.92 and a one year high of $78.66.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.01). The firm had revenue of $7.43 billion for the quarter, compared to the consensus estimate of $7.11 billion. Royal Bank Of Canada had a net margin of 22.98% and a return on equity of 16.63%. During the same quarter in the prior year, the company posted $1.72 earnings per share. On average, equities analysts expect that Royal Bank Of Canada will post $5.98 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, October 26th will be given a dividend of $0.724 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $0.64. This represents a $2.90 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Wednesday, October 25th. Royal Bank Of Canada’s dividend payout ratio is currently 50.36%.

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.

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

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