IFP Advisors Inc decreased its stake in shares of Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,522 shares of the financial services provider’s stock after selling 126 shares during the quarter. IFP Advisors Inc’s holdings in Royal Bank of Canada were worth $103,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. RFG Advisory LLC raised its position in Royal Bank of Canada by 0.6% during the 3rd quarter. RFG Advisory LLC now owns 16,971 shares of the financial services provider’s stock worth $1,626,000 after buying an additional 103 shares during the last quarter. Vident Investment Advisory LLC increased its stake in Royal Bank of Canada by 1.1% during the first quarter. Vident Investment Advisory LLC now owns 9,935 shares of the financial services provider’s stock worth $1,095,000 after purchasing an additional 105 shares during the period. AE Wealth Management LLC increased its stake in Royal Bank of Canada by 4.2% during the fourth quarter. AE Wealth Management LLC now owns 2,640 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 107 shares during the period. First Republic Investment Management Inc. grew its position in shares of Royal Bank of Canada by 0.6% during the third quarter. First Republic Investment Management Inc. now owns 20,567 shares of the financial services provider’s stock worth $1,852,000 after buying an additional 123 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. boosted its holdings in Royal Bank of Canada by 6.3% in the first quarter. Laurel Wealth Advisors Inc. now owns 2,284 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.
Royal Bank of Canada Price Performance
Shares of NYSE RY opened at $95.89 on Monday. The stock has a market cap of $133.35 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.72 and a beta of 0.82. Royal Bank of Canada has a fifty-two week low of $83.63 and a fifty-two week high of $106.43. The firm’s 50-day simple moving average is $96.87 and its 200 day simple moving average is $97.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89.
Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) last announced its earnings results on Wednesday, March 1st. The financial services provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.09. The business had revenue of $11.21 billion during the quarter, compared to the consensus estimate of $9.67 billion. Royal Bank of Canada had a net margin of 18.77% and a return on equity of 16.17%. As a group, research analysts anticipate that Royal Bank of Canada will post 8.65 earnings per share for the current fiscal year.
Royal Bank of Canada Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Tuesday, April 25th will be paid a dividend of $0.992 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.98. The ex-dividend date is Monday, April 24th. This represents a $3.97 dividend on an annualized basis and a dividend yield of 4.14%. Royal Bank of Canada’s payout ratio is 48.45%.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. Barclays cut Royal Bank of Canada from an “overweight” rating to an “underweight” rating in a research note on Tuesday, May 9th. Desjardins boosted their target price on Royal Bank of Canada from C$145.00 to C$147.00 in a report on Tuesday, February 7th. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $138.33.
Royal Bank of Canada Profile
Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support. The Personal and Commercial Banking segment deals with a broad suite of financial products and services in Canada.
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