Royal Bank of Canada (NYSE:RY) Shares Sold by PDS Planning Inc

PDS Planning Inc lessened its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,319 shares of the financial services provider’s stock after selling 127 shares during the quarter. PDS Planning Inc’s holdings in Royal Bank of Canada were worth $336,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RY. Sage Mountain Advisors LLC grew its position in Royal Bank of Canada by 27.2% in the fourth quarter. Sage Mountain Advisors LLC now owns 7,709 shares of the financial services provider’s stock valued at $780,000 after acquiring an additional 1,649 shares in the last quarter. Duality Advisers LP grew its position in Royal Bank of Canada by 33.0% in the fourth quarter. Duality Advisers LP now owns 48,862 shares of the financial services provider’s stock valued at $4,941,000 after acquiring an additional 12,119 shares in the last quarter. Klingenstein Fields & Co. LP acquired a new stake in Royal Bank of Canada in the fourth quarter valued at approximately $204,000. CWM LLC grew its position in Royal Bank of Canada by 7.9% in the fourth quarter. CWM LLC now owns 2,384 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 175 shares in the last quarter. Finally, Signaturefd LLC grew its position in Royal Bank of Canada by 18.3% in the fourth quarter. Signaturefd LLC now owns 20,305 shares of the financial services provider’s stock valued at $2,053,000 after acquiring an additional 3,138 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on RY. Jefferies Financial Group began coverage on shares of 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 increased their target price for the company from $140.00 to $150.00 in a research note on Friday, April 5th. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Finally, Barclays initiated coverage on Royal Bank of Canada in a research note 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 assigned a buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada presently has an average rating of “Hold” and an average target price of $137.67.

Royal Bank of Canada Stock Up 0.8 %

Shares of Royal Bank of Canada stock traded up $0.79 on Tuesday, hitting $99.99. 1,225,864 shares of the company’s stock traded hands, compared to its average volume of 1,207,334. The stock has a market cap of $141.45 billion, a P/E ratio of 12.50, a PEG ratio of 1.69 and a beta of 0.86. 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’s 50-day moving average is $99.00 and its 200 day moving average is $94.48. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.05. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. The firm had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $10.10 billion. Equities 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 disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a dividend of $1.0207 per share. The ex-dividend date of this dividend is Wednesday, April 24th. 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 yield of 4.08%. Royal Bank of Canada’s dividend payout ratio (DPR) is 37.66%.

Royal Bank of Canada 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.