Royal Bank of Canada (NYSE:RY) Position Reduced by Hoylecohen LLC

Hoylecohen LLC reduced its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 8.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,900 shares of the financial services provider’s stock after selling 550 shares during the quarter. Hoylecohen LLC’s holdings in Royal Bank of Canada were worth $446,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of RY. Resources Investment Advisors Inc. purchased a new stake in shares of Royal Bank of Canada in the first quarter valued at approximately $30,000. CWM LLC lifted its holdings in Royal Bank of Canada by 86.8% during the first quarter. CWM LLC now owns 409 shares of the financial services provider’s stock worth $31,000 after buying an additional 190 shares during the period. WP Advisors LLC purchased a new stake in Royal Bank of Canada during the first quarter worth $38,000. Financial Gravity Companies Inc. purchased a new stake in Royal Bank of Canada during the fourth quarter worth $38,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Royal Bank of Canada during the fourth quarter worth $38,000. 41.56% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Desjardins reissued a “buy” rating and issued a $111.00 target price on shares of Royal Bank of Canada in a research report on Thursday, May 16th. Barclays reissued a “sell” rating on shares of Royal Bank of Canada in a research report on Friday, May 17th. Finally, BMO Capital Markets reissued a “hold” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $99.25.

RY traded up $0.27 during trading on Monday, reaching $79.67. The company’s stock had a trading volume of 329,119 shares, compared to its average volume of 867,019. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $77.78. Royal Bank of Canada has a 1 year low of $65.76 and a 1 year high of $81.56. The company has a market capitalization of $114.01 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 23rd. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.04. The business had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $7.60 billion. Royal Bank of Canada had a net margin of 20.04% and a return on equity of 17.36%. During the same period in the previous year, the company earned $2.06 EPS. On average, equities analysts expect that Royal Bank of Canada will post 6.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be given a $0.7596 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $3.04 dividend on an annualized basis and a yield of 3.81%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 46.86%.

About Royal Bank of Canada

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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