Kestra Private Wealth Services LLC Grows Stock Holdings in Royal Bank of Canada (NYSE:RY)

Kestra Private Wealth Services LLC boosted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 36.2% during the 4th quarter, HoldingsChannel reports. The firm owned 3,726 shares of the financial services provider’s stock after purchasing an additional 990 shares during the period. Kestra Private Wealth Services LLC’s holdings in Royal Bank of Canada were worth $377,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in RY. Cambridge Investment Research Advisors Inc. boosted its stake in Royal Bank of Canada by 6.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 24,560 shares of the financial services provider’s stock worth $2,148,000 after purchasing an additional 1,548 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Royal Bank of Canada by 1.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 126,060 shares of the financial services provider’s stock worth $11,023,000 after acquiring an additional 1,561 shares during the last quarter. Advisor Partners II LLC grew its stake in Royal Bank of Canada by 3.2% during the third quarter. Advisor Partners II LLC now owns 18,263 shares of the financial services provider’s stock valued at $1,597,000 after acquiring an additional 566 shares in the last quarter. Gradient Investments LLC increased its holdings in Royal Bank of Canada by 4.1% in the 3rd quarter. Gradient Investments LLC now owns 4,168 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 165 shares during the last quarter. Finally, TIAA Trust National Association purchased a new stake in Royal Bank of Canada in the 3rd quarter worth $1,092,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Stock Performance

NYSE:RY opened at $101.04 on Wednesday. The firm has a market capitalization of $142.95 billion, a PE ratio of 12.73, a PEG ratio of 1.74 and a beta of 0.86. The stock’s fifty day moving average is $99.32 and its 200 day moving average is $95.65. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two 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 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $10.10 billion. On average, sell-side 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders 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 an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 dividend on an annualized basis and a dividend yield of 4.04%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 25.31%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Barclays began coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They set an “equal weight” rating for the company. BMO Capital Markets raised Royal Bank of Canada from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $140.00 to $150.00 in a report on Friday, April 5th. Jefferies Financial Group started coverage on shares of Royal Bank of Canada in a research report on Thursday, February 22nd. They issued a “hold” rating on the stock. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. One research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.