Artemis Investment Management LLP Sells 164,800 Shares of Royal Bank of Canada (NYSE:RY)

Artemis Investment Management LLP lowered its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 73.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,320 shares of the financial services provider’s stock after selling 164,800 shares during the quarter. Artemis Investment Management LLP’s holdings in Royal Bank of Canada were worth $4,726,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of RY. Coastal Capital Group Inc. purchased a new position in Royal Bank of Canada in the second quarter worth $28,000. Meridian Wealth Management LLC purchased a new position in Royal Bank of Canada in the first quarter worth $30,000. Capital Advisors Ltd. LLC purchased a new position in Royal Bank of Canada in the second quarter worth $32,000. Boston Partners purchased a new position in Royal Bank of Canada in the second quarter worth $50,000. Finally, Winslow Evans & Crocker Inc. boosted its position in Royal Bank of Canada by 34.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 806 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 206 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE RY opened at $80.56 on Friday. Royal Bank of Canada has a one year low of $65.76 and a one year high of $81.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. The business’s fifty day moving average price is $78.08 and its 200-day moving average price is $78.10. The stock has a market capitalization of $112.48 billion, a PE ratio of 12.34, a P/E/G ratio of 2.07 and a beta of 1.12.



Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 21st. The financial services provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.04). Royal Bank of Canada had a net margin of 19.66% and a return on equity of 17.18%. The firm had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $11.56 billion. During the same period in the prior year, the company earned $2.10 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Royal Bank of Canada will post 6.76 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a dividend of $0.796 per share. This represents a $3.18 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.76. Royal Bank of Canada’s dividend payout ratio is currently 47.78%.

Several research analysts have weighed in on RY shares. ValuEngine cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Barclays reissued a “sell” rating on shares of Royal Bank of Canada in a research report on Wednesday, August 21st. Scotiabank reissued a “buy” rating on shares of Royal Bank of Canada in a research report on Tuesday, August 20th. Finally, Zacks Investment Research cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Royal Bank of Canada has a consensus rating of “Hold” and a consensus price target of $100.50.

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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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