Brown Shipley& Co Ltd Has $1.19 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Brown Shipley& Co Ltd decreased its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,151 shares of the financial services provider’s stock after selling 218 shares during the period. Royal Bank of Canada makes up about 0.5% of Brown Shipley& Co Ltd’s portfolio, making the stock its 26th biggest position. Brown Shipley& Co Ltd’s holdings in Royal Bank of Canada were worth $1,186,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital World Investors acquired a new position in Royal Bank of Canada during the 4th quarter worth about $365,246,000. National Bank of Canada FI increased its position in Royal Bank of Canada by 16.7% during the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock valued at $2,141,681,000 after purchasing an additional 2,901,033 shares during the period. Vanguard Group Inc. increased its position in Royal Bank of Canada by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 54,730,646 shares of the financial services provider’s stock valued at $5,534,910,000 after purchasing an additional 1,603,427 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Royal Bank of Canada by 40.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,039,171 shares of the financial services provider’s stock worth $508,739,000 after purchasing an additional 1,452,127 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Royal Bank of Canada by 8.7% in the 4th quarter. CIBC Asset Management Inc now owns 13,490,419 shares of the financial services provider’s stock valued at $1,368,641,000 after purchasing an additional 1,076,974 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of recent analyst reports. UBS Group started coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They set a “buy” rating for the company. Argus raised their price objective on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Finally, BMO Capital Markets increased their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Trading Down 0.2 %

NYSE RY opened at $124.26 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $124.86. The business has a 50 day moving average price of $116.10 and a 200-day moving average price of $108.03. The company has a market cap of $175.84 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 2.01 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The business had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. As a group, equities analysts expect that Royal Bank of Canada will post 8.97 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is presently 52.11%.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.