Value Partners Investments Inc. Sells 7,036 Shares of Royal Bank Of Canada $RY

Value Partners Investments Inc. reduced its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 324,031 shares of the financial services provider’s stock after selling 7,036 shares during the quarter. Royal Bank Of Canada accounts for about 4.0% of Value Partners Investments Inc.’s investment portfolio, making the stock its 13th largest position. Value Partners Investments Inc.’s holdings in Royal Bank Of Canada were worth $52,276,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RY. Venturi Wealth Management LLC increased its stake in Royal Bank Of Canada by 8.8% in the first quarter. Venturi Wealth Management LLC now owns 6,943 shares of the financial services provider’s stock valued at $1,123,000 after acquiring an additional 562 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new stake in Royal Bank Of Canada during the 1st quarter valued at about $215,000. Maseco LLP raised its holdings in Royal Bank Of Canada by 355.0% during the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after buying an additional 142 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in Royal Bank Of Canada by 50.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 3,139 shares of the financial services provider’s stock valued at $508,000 after buying an additional 1,056 shares during the last quarter. Finally, Ritholtz Wealth Management grew its holdings in Royal Bank Of Canada by 3.0% in the 1st quarter. Ritholtz Wealth Management now owns 37,848 shares of the financial services provider’s stock worth $6,123,000 after acquiring an additional 1,093 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on RY shares. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Finally, Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Price Performance

RY stock opened at $203.00 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 0.82. The firm has a 50 day moving average price of $188.63 and a 200-day moving average price of $175.03. Royal Bank Of Canada has a 52-week low of $127.38 and a 52-week high of $204.82. The firm has a market capitalization of $282.12 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.61 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter in the previous year, the business earned $3.12 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts forecast that Royal Bank Of Canada will post 11.45 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a $1.76 dividend. This represents a $7.04 annualized dividend and a yield of 3.5%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is presently 42.41%.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.