Royal Bank of Canada (NYSE:RY) is Toronto Dominion Bank’s 6th Largest Position

Toronto Dominion Bank lessened its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.0% in the second quarter, Holdings Channel.com reports. The firm owned 16,405,255 shares of the financial services provider’s stock after selling 502,419 shares during the period. Royal Bank of Canada comprises 2.8% of Toronto Dominion Bank’s portfolio, making the stock its 6th largest holding. Toronto Dominion Bank’s holdings in Royal Bank of Canada were worth $1,745,191,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new stake in shares of Royal Bank of Canada during the second quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new position in Royal Bank of Canada during the 2nd quarter worth $33,000. Mather Group LLC. bought a new stake in shares of Royal Bank of Canada in the 1st quarter worth about $49,000. Nisa Investment Advisors LLC increased its position in shares of Royal Bank of Canada by 293.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 379 shares during the last quarter. Finally, Heritage Wealth Advisors acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at about $61,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RY. BMO Capital Markets lifted their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. UBS Group began coverage on Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating on the stock. Finally, Argus raised their price objective on Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Stock Performance

Shares of NYSE RY opened at $123.68 on Wednesday. The stock has a market capitalization of $175.02 billion, a P/E ratio of 15.34, a P/E/G ratio of 2.00 and a beta of 0.86. The firm’s 50-day moving average price is $115.36 and its two-hundred day moving average price is $107.53. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $124.46. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. As a group, sell-side analysts forecast that Royal Bank of Canada will post 8.97 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

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 issued a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 51.49%.

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.