Panagora Asset Management Inc. Sells 64,133 Shares of Royal Bank of Canada (NYSE:RY)

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Panagora Asset Management Inc. lowered its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 94.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,460 shares of the financial services provider’s stock after selling 64,133 shares during the period. Panagora Asset Management Inc.’s holdings in Royal Bank of Canada were worth $275,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Leisure Capital Management grew its holdings in Royal Bank of Canada by 1.6% during the 2nd quarter. Leisure Capital Management now owns 8,362 shares of the financial services provider’s stock worth $664,000 after acquiring an additional 132 shares during the period. Cetera Advisor Networks LLC grew its holdings in Royal Bank of Canada by 1.5% during the 1st quarter. Cetera Advisor Networks LLC now owns 9,425 shares of the financial services provider’s stock worth $712,000 after acquiring an additional 137 shares during the period. Teza Capital Management LLC grew its holdings in shares of Royal Bank of Canada by 1.6% in the 1st quarter. Teza Capital Management LLC now owns 10,126 shares of the financial services provider’s stock valued at $765,000 after buying an additional 163 shares during the period. Winslow Evans & Crocker Inc. grew its holdings in shares of Royal Bank of Canada by 34.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 806 shares of the financial services provider’s stock valued at $64,000 after buying an additional 206 shares during the period. Finally, Landsberg Bennett & Dubbaneh LLC grew its holdings in shares of Royal Bank of Canada by 6.4% in the 2nd quarter. Landsberg Bennett & Dubbaneh LLC now owns 3,458 shares of the financial services provider’s stock valued at $275,000 after buying an additional 207 shares during the period. Institutional investors own 43.61% of the company’s stock.

NYSE:RY traded up $0.63 on Friday, hitting $79.42. 60,387 shares of the company’s stock were exchanged, compared to its average volume of 743,151. The firm has a 50-day moving average price of $76.18 and a 200-day moving average price of $77.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91. Royal Bank of Canada has a 52 week low of $65.76 and a 52 week high of $81.56. The company has a market cap of $113.50 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 2.06 and a beta of 1.11.

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 the consensus estimate of $1.73 by ($0.04). Royal Bank of Canada had a return on equity of 17.18% and a net margin of 19.66%. The business had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same period last year, the firm earned $2.10 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts expect that Royal Bank of Canada will post 6.76 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be given a dividend of $0.796 per share. The ex-dividend date is Wednesday, October 23rd. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.76. This represents a $3.18 annualized dividend and a yield of 4.01%. Royal Bank of Canada’s payout ratio is 47.78%.

RY has been the subject of several research analyst reports. Scotiabank reissued a “buy” rating on shares of Royal Bank of Canada in a report on Tuesday, August 20th. BMO Capital Markets reaffirmed a “hold” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. Zacks Investment Research cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Wednesday. Desjardins reaffirmed a “buy” rating and issued a $111.00 price objective on shares of Royal Bank of Canada in a research report on Thursday, May 16th. Finally, Barclays reaffirmed a “sell” rating on shares of Royal Bank of Canada in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Royal Bank of Canada has a consensus rating of “Hold” and a consensus price target of $99.25.

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 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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