Merit Financial Group LLC Decreases Stock Holdings in Royal Bank of Canada (NYSE:RY)

Merit Financial Group LLC trimmed its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 60.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,326 shares of the financial services provider’s stock after selling 14,328 shares during the quarter. Merit Financial Group LLC’s holdings in Royal Bank of Canada were worth $943,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in Royal Bank of Canada during the 3rd quarter worth about $26,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Royal Bank of Canada in the third quarter valued at approximately $34,000. First Horizon Advisors Inc. increased its holdings in Royal Bank of Canada by 64.7% in the 4th quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider’s stock worth $48,000 after buying an additional 185 shares during the period. Cullen Frost Bankers Inc. purchased a new position in Royal Bank of Canada during the 3rd quarter worth approximately $44,000. Finally, Addison Advisors LLC lifted its stake in Royal Bank of Canada by 131.0% during the 4th quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 300 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RY shares. 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. Jefferies Financial Group assumed coverage on Royal Bank of Canada in a research report on Thursday, February 22nd. They set a “hold” rating on the stock. BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $140.00 to $150.00 in a report on Friday, April 5th. Finally, Barclays initiated coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They set an “equal weight” rating for the company. One equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $137.67.

Royal Bank of Canada Trading Up 2.0 %

Shares of Royal Bank of Canada stock opened at $101.17 on Monday. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $103.88. The business’s fifty day moving average is $99.16 and its two-hundred day moving average is $95.37. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a market cap of $143.13 billion, a PE ratio of 12.74, a P/E/G ratio of 1.74 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.05. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. The firm had revenue of $9.98 billion for the quarter, compared to the consensus estimate of $10.10 billion. Analysts anticipate that Royal Bank of Canada will post 8.45 earnings per share 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. Shareholders of record on Thursday, April 25th will be given a $1.0207 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 4.04%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio is 25.31%.

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.