Marshall Wace LLP Sells 152,835 Shares of Royal Bank of Canada (NYSE:RY)

Marshall Wace LLP decreased its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 87.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,600 shares of the financial services provider’s stock after selling 152,835 shares during the quarter. Marshall Wace LLP’s holdings in Royal Bank of Canada were worth $2,404,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Royal Bank of Canada in the fourth quarter valued at about $464,000. Capital Research Global Investors acquired a new stake in Royal Bank of Canada during the 4th quarter valued at approximately $34,537,000. Capital World Investors bought a new position in Royal Bank of Canada during the 4th quarter worth approximately $365,246,000. Waterloo Capital L.P. lifted its position in shares of Royal Bank of Canada by 30.2% in the 4th quarter. Waterloo Capital L.P. now owns 3,726 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 865 shares during the period. Finally, Ossiam boosted its stake in shares of Royal Bank of Canada by 33.7% in the 4th quarter. Ossiam now owns 108,918 shares of the financial services provider’s stock valued at $11,069,000 after purchasing an additional 27,460 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Royal Bank of Canada Trading Down 1.2 %

Shares of Royal Bank of Canada stock opened at $121.39 on Friday. The stock has a market capitalization of $171.78 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 2.02 and a beta of 0.86. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $125.28. The stock has a 50 day moving average price of $117.12 and a two-hundred day moving average price of $108.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $10.40 billion. As a group, equities analysts anticipate 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. Investors of record on Thursday, October 24th will be issued a $1.028 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.39%. Royal Bank of Canada’s dividend payout ratio is presently 52.11%.

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 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.