Royal Bank of Canada (NYSE:RY) Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC lowered its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 15.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,162 shares of the financial services provider’s stock after selling 770 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Royal Bank of Canada were worth $421,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RY. Banque Cantonale Vaudoise acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at about $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at about $34,000. Money Concepts Capital Corp acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at about $38,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at about $44,000. Finally, Janiczek Wealth Management LLC raised its stake in shares of Royal Bank of Canada by 36.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 197 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RY shares. BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $140.00 to $150.00 in a research report on Friday, April 5th. Jefferies Financial Group began coverage on shares of Royal Bank of Canada in a report on Thursday, February 22nd. They issued a “hold” rating for the company. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Bank of America raised shares of Royal Bank of Canada from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th. Finally, Barclays initiated coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $137.67.

Royal Bank of Canada Stock Performance

Shares of RY opened at $97.92 on Tuesday. The firm has a market cap of $138.53 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.69 and a beta of 0.86. The company’s fifty day moving average is $98.97 and its 200-day moving average is $94.02. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.05. The business had revenue of $9.98 billion during the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. Equities analysts expect that Royal Bank of Canada will post 8.5 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a $1.0207 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 dividend on an annualized basis and a yield of 4.17%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 37.66%.

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.