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

PDS Planning Inc cut its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,319 shares of the financial services provider’s stock after selling 127 shares during the period. PDS Planning Inc’s holdings in Royal Bank of Canada were worth $336,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in Royal Bank of Canada during the third quarter worth $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Royal Bank of Canada during the third quarter worth $34,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at about $44,000. Janiczek Wealth Management LLC raised its position in shares of Royal Bank of Canada by 36.8% in the fourth quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock valued at $74,000 after buying an additional 197 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV acquired a new stake in shares of Royal Bank of Canada in the fourth quarter valued at about $105,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Trading Up 0.8 %

RY stock traded up $0.79 during mid-day trading on Tuesday, hitting $99.99. 1,225,864 shares of the company were exchanged, compared to its average volume of 1,207,334. 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 capitalization of $141.45 billion, a P/E ratio of 12.50, a PEG ratio of 1.69 and a beta of 0.86. The business has a fifty day simple moving average of $99.00 and a 200-day simple moving average of $94.48. 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 announced its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.05. The company 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%. On average, equities research analysts predict that Royal Bank of Canada will post 8.45 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented 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 raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $140.00 to $150.00 in a report on Friday, April 5th. Barclays initiated coverage on shares of Royal Bank of Canada in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $137.67.

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.