DORCHESTER WEALTH MANAGEMENT Co cut its position in shares of Royal Bank Of Canada (NYSE:RY) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 236,262 shares of the company’s stock after selling 11,908 shares during the period. Royal Bank Of Canada makes up approximately 5.4% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 2nd largest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Royal Bank Of Canada were worth $14,636,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CIBC World Markets Inc. raised its position in shares of Royal Bank Of Canada by 0.4% in the second quarter. CIBC World Markets Inc. now owns 58,022,859 shares of the company’s stock worth $3,428,571,000 after buying an additional 259,820 shares in the last quarter. FMR LLC raised its stake in Royal Bank Of Canada by 10.6% in the second quarter. FMR LLC now owns 30,229,683 shares of the company’s stock valued at $1,786,240,000 after buying an additional 2,901,424 shares during the period. Vanguard Group Inc. raised its stake in Royal Bank Of Canada by 12.0% in the second quarter. Vanguard Group Inc. now owns 28,178,728 shares of the company’s stock valued at $1,665,080,000 after buying an additional 3,008,391 shares during the period. Beutel Goodman & Co Ltd. raised its stake in Royal Bank Of Canada by 5.3% in the second quarter. Beutel Goodman & Co Ltd. now owns 19,009,864 shares of the company’s stock valued at $1,115,545,000 after buying an additional 963,498 shares during the period. Finally, Cohen & Steers Inc. bought a new stake in Royal Bank Of Canada during the second quarter valued at approximately $19,755,000. 45.07% of the stock is currently owned by institutional investors and hedge funds.
Royal Bank Of Canada (NYSE:RY) traded up 0.27% during trading on Monday, hitting $63.05. The stock had a trading volume of 766,958 shares. The firm has a market cap of $93.55 billion, a P/E ratio of 12.14 and a beta of 1.14. The stock’s 50 day moving average price is $62.01 and its 200 day moving average price is $60.80. Royal Bank Of Canada has a 12-month low of $44.37 and a 12-month high of $64.13.
Royal Bank Of Canada (NYSE:RY) last posted its earnings results on Wednesday, August 24th. The company reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.39. Royal Bank Of Canada had a return on equity of 16.36% and a net margin of 22.91%. The business earned $10.26 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same period in the previous year, the business earned $1.66 EPS. On average, analysts anticipate that Royal Bank Of Canada will post $5.18 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 24th. Shareholders of record on Wednesday, October 26th will be paid a dividend of $0.6449 per share. The ex-dividend date of this dividend is Monday, October 24th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $0.62. This represents a $2.58 annualized dividend and a yield of 4.09%. Royal Bank Of Canada’s dividend payout ratio is currently 50.20%.
Several analysts recently commented on RY shares. Canaccord Genuity reaffirmed a “hold” rating on shares of Royal Bank Of Canada in a report on Tuesday, July 19th. Bank of America Corp. reaffirmed an “underperform” rating on shares of Royal Bank Of Canada in a report on Tuesday, July 12th. Citigroup Inc. raised their target price on Royal Bank Of Canada from $88.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, August 15th. Barclays PLC reaffirmed an “underweight” rating and set a $72.00 target price (up from $67.00) on shares of Royal Bank Of Canada in a report on Sunday, August 21st. Finally, Dundee Securities started coverage on Royal Bank Of Canada in a report on Wednesday, September 21st. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $83.70.
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. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets.
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