Royal Bank Of Canada $RY Shares Sold by Montrusco Bolton Investments Inc.

by · The Markets Daily

Montrusco Bolton Investments Inc. cut its holdings in shares of Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 13.3% in the third quarter, HoldingsChannel reports. The fund owned 219,335 shares of the financial services provider’s stock after selling 33,648 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Royal Bank Of Canada were worth $43,248,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GK Wealth Management LLC purchased a new stake in shares of Royal Bank Of Canada in the third quarter worth approximately $100,000. Balefire LLC grew its position in Royal Bank Of Canada by 10.5% during the third quarter. Balefire LLC now owns 1,624 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 154 shares in the last quarter. Riversedge Advisors LLC grew its position in Royal Bank Of Canada by 3.0% during the third quarter. Riversedge Advisors LLC now owns 2,996 shares of the financial services provider’s stock valued at $589,000 after purchasing an additional 88 shares in the last quarter. Wedmont Private Capital increased its stake in Royal Bank Of Canada by 1.8% in the 3rd quarter. Wedmont Private Capital now owns 3,949 shares of the financial services provider’s stock valued at $753,000 after buying an additional 71 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Royal Bank Of Canada by 1.6% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 413,777 shares of the financial services provider’s stock valued at $81,588,000 after buying an additional 6,500 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RY shares. Keefe, Bruyette & Woods initiated coverage on shares of Royal Bank Of Canada in a research report on Friday, August 21st. They issued a “market perform” rating for the company. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Finally, Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $225.00.

Check Out Our Latest Stock Analysis on Royal Bank Of Canada

Royal Bank Of Canada Stock Up 1.1%

Royal Bank Of Canada stock traded up $2.12 during mid-day trading on Tuesday, hitting $194.88. 1,508,979 shares of the company’s stock were exchanged, compared to its average volume of 1,426,954. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The stock has a market cap of $269.71 billion, a P/E ratio of 17.05, a P/E/G ratio of 1.72 and a beta of 0.80. Royal Bank Of Canada has a 1-year low of $143.13 and a 1-year high of $218.57. The stock has a 50 day moving average of $204.45 and a two-hundred day moving average of $195.85.

Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last announced its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.18. The company had revenue of $13.22 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. As a group, analysts anticipate that Royal Bank Of Canada will post 11.83 EPS for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be given a dividend of C$1.76 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a yield of 3.6%. Royal Bank Of Canada’s dividend payout ratio is presently 43.39%.

About Royal Bank Of Canada

(Free Report)

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.

See Also

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY).