Royal Bank Of Canada $RY Shares Sold by Westerkirk Capital Inc.

by · The Markets Daily

Westerkirk Capital Inc. trimmed its position in Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 93.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,858 shares of the financial services provider’s stock after selling 55,500 shares during the period. Westerkirk Capital Inc.’s holdings in Royal Bank Of Canada were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in RY. Harvest Fund Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada in the 4th quarter valued at $25,000. Tradewinds Capital Management LLC acquired a new position in shares of Royal Bank Of Canada in the 4th quarter valued at $26,000. Johnson Financial Group Inc. acquired a new position in shares of Royal Bank Of Canada in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC increased its position in shares of Royal Bank Of Canada by 75.4% in the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 89 shares during the period. Finally, Cornerstone Planning Group LLC increased its position in shares of Royal Bank Of Canada by 55.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 88 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 1.3%

Royal Bank Of Canada stock opened at $197.90 on Wednesday. The stock’s 50 day simple moving average is $179.85 and its two-hundred day simple moving average is $170.86. Royal Bank Of Canada has a 12 month low of $126.02 and a 12 month high of $198.57. The firm has a market cap of $275.03 billion, a PE ratio of 17.78, a P/E/G ratio of 1.54 and a beta of 0.81. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The firm had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same period in the prior year, the firm posted $3.12 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Analysts anticipate that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.6%. Royal Bank Of Canada’s payout ratio is 42.41%.

Analyst Ratings Changes

Several equities analysts recently issued reports on RY shares. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Finally, TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

View Our Latest Stock Analysis on Royal Bank Of Canada

Royal Bank Of Canada Profile

(Free Report)

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.

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