Franklin Street Advisors Inc. NC Sells 3,900 Shares of Royal Bank of Canada (NYSE:RY)

Franklin Street Advisors Inc. NC trimmed its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,840 shares of the financial services provider’s stock after selling 3,900 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Royal Bank of Canada were worth $3,018,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new position in Royal Bank of Canada during the third quarter valued at $26,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Royal Bank of Canada in the 3rd quarter worth about $34,000. Money Concepts Capital Corp bought a new stake in Royal Bank of Canada in the 4th quarter valued at about $38,000. Cullen Frost Bankers Inc. purchased a new stake in Royal Bank of Canada during the third quarter valued at about $44,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in Royal Bank of Canada during the third quarter worth about $66,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on RY. Jefferies Financial Group initiated coverage on shares of Royal Bank of Canada in a research note on Thursday, February 22nd. They set a “hold” rating on the stock. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Bank of America upgraded Royal Bank of Canada from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th. Finally, Barclays assumed coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They set an “equal weight” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Hold” and an average target price of $131.50.

Royal Bank of Canada Stock Up 0.5 %

RY stock opened at $100.88 on Friday. Royal Bank of Canada has a 1-year low of $77.90 and a 1-year high of $102.07. The stock has a market cap of $142.71 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.72 and a beta of 0.86. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $98.37 and its 200 day moving average is $92.99.

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 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $10.10 billion. Sell-side analysts predict that Royal Bank of Canada will post 8.5 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors 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 4.05%. 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. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 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.