TD Asset Management Inc. reduced its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,045,016 shares of the financial services provider’s stock after selling 442,569 shares during the quarter. Royal Bank of Canada comprises 4.4% of TD Asset Management Inc.’s investment portfolio, making the stock its 2nd largest position. TD Asset Management Inc. owned approximately 2.58% of Royal Bank of Canada worth $2,950,276,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of RY. Dimensional Fund Advisors LP raised its stake in Royal Bank of Canada by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,307,468 shares of the financial services provider’s stock worth $89,588,000 after acquiring an additional 30,060 shares in the last quarter. First Manhattan Co. increased its stake in shares of Royal Bank of Canada by 728.0% in the first quarter. First Manhattan Co. now owns 8,280 shares of the financial services provider’s stock valued at $625,000 after buying an additional 7,280 shares during the period. Landsberg Bennett & Dubbaneh LLC increased its stake in shares of Royal Bank of Canada by 9.3% in the first quarter. Landsberg Bennett & Dubbaneh LLC now owns 3,251 shares of the financial services provider’s stock valued at $252,000 after buying an additional 277 shares during the period. WP Advisors LLC acquired a new position in shares of Royal Bank of Canada in the first quarter valued at approximately $38,000. Finally, Baskin Financial Services Inc. increased its stake in shares of Royal Bank of Canada by 2.9% in the first quarter. Baskin Financial Services Inc. now owns 85,412 shares of the financial services provider’s stock valued at $6,444,000 after buying an additional 2,371 shares during the period. Hedge funds and other institutional investors own 41.43% of the company’s stock.

Several research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “hold” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. Desjardins reaffirmed a “buy” rating and issued a $111.00 price objective on shares of Royal Bank of Canada in a research note on Thursday, May 16th. Zacks Investment Research raised Royal Bank of Canada from a “sell” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Thursday, August 1st. Finally, Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Royal Bank of Canada currently has a consensus rating of “Buy” and a consensus target price of $100.00.

RY stock traded up $0.60 during trading on Tuesday, hitting $76.08. The company had a trading volume of 666,391 shares, compared to its average volume of 855,731. The stock has a 50-day moving average price of $79.10. Royal Bank of Canada has a one year low of $65.76 and a one year high of $81.56. The firm has a market cap of $109.09 billion, a PE ratio of 11.65, a PEG ratio of 1.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 0.92.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 23rd. The financial services provider reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.04. Royal Bank of Canada had a return on equity of 17.36% and a net margin of 20.04%. The business had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $7.60 billion. During the same period in the prior year, the business posted $2.06 earnings per share. Equities analysts expect that Royal Bank of Canada will post 6.75 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be issued a dividend of $0.7596 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Wednesday, July 24th. Royal Bank of Canada’s payout ratio is 47.78%.

Royal Bank of Canada Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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

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