Vontobel Holding Ltd. Sells 2,810 Shares of Royal Bank of Canada (NYSE:RY)

Vontobel Holding Ltd. lowered its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 224,974 shares of the financial services provider’s stock after selling 2,810 shares during the quarter. Vontobel Holding Ltd.’s holdings in Royal Bank of Canada were worth $22,752,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $26,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $34,000. Money Concepts Capital Corp bought a new position in Royal Bank of Canada in the 4th quarter valued at $38,000. Cullen Frost Bankers Inc. bought a new position in Royal Bank of Canada in the 3rd quarter valued at $44,000. Finally, Janiczek Wealth Management LLC raised its position in 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 during the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Down 0.6 %

NYSE RY opened at $97.92 on Tuesday. The stock has a fifty day moving average of $98.97 and a 200-day moving average of $94.02. The stock has a market capitalization of $138.53 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.69 and a beta of 0.86. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $103.88. 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) (TSE:RY) last released its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, beating the consensus estimate of $2.06 by $0.05. The company had revenue of $9.98 billion during the quarter, compared to analysts’ expectations of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. On average, equities research analysts forecast that Royal Bank of Canada will post 8.5 EPS for the current year.

Royal Bank of Canada Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have issued reports on RY shares. Bank of America upgraded Royal Bank of Canada from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Jefferies Financial Group started coverage on Royal Bank of Canada in a research report on Thursday, February 22nd. They issued a “hold” rating for the company. BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $140.00 to $150.00 in a research report on Friday, April 5th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Barclays started coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating for the company. 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $137.67.

About Royal Bank of Canada

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.