Royal Bank of Canada (NYSE:RY) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,326 shares of the financial services provider’s stock after selling 200 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Royal Bank of Canada were worth $914,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc grew its stake in Royal Bank of Canada by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after purchasing an additional 190,341 shares in the last quarter. Creative Planning grew its position in shares of Royal Bank of Canada by 6.4% during the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock worth $26,369,000 after buying an additional 12,693 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Royal Bank of Canada in the second quarter valued at $3,787,000. Acadian Asset Management LLC raised its holdings in Royal Bank of Canada by 55.1% in the first quarter. Acadian Asset Management LLC now owns 42,219 shares of the financial services provider’s stock valued at $4,258,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Shell Asset Management Co. boosted its stake in Royal Bank of Canada by 3.8% during the 1st quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 100 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Trading Up 0.4 %

NYSE:RY opened at $122.94 on Wednesday. Royal Bank of Canada has a 12-month low of $85.02 and a 12-month high of $126.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day simple moving average of $123.37 and a 200 day simple moving average of $114.27. The firm has a market capitalization of $173.80 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Equities research analysts predict that Royal Bank of Canada will post 8.88 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be issued a dividend of $1.028 per share. The ex-dividend date is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.34%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets boosted their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.50.

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.