Commonwealth Equity Services LLC Trims Stock Holdings in Royal Bank Of Canada $RY

Commonwealth Equity Services LLC trimmed its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 13.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,140 shares of the financial services provider’s stock after selling 12,903 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Royal Bank Of Canada were worth $12,543,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Toth Financial Advisory Corp bought a new stake in shares of Royal Bank Of Canada during the 3rd quarter valued at about $29,000. True Wealth Design LLC acquired a new position in Royal Bank Of Canada in the third quarter valued at approximately $31,000. Roxbury Financial LLC grew its holdings in shares of Royal Bank Of Canada by 44.3% during the second quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 104 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Royal Bank Of Canada by 86.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 180 shares during the period. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Royal Bank Of Canada in the 2nd quarter worth approximately $51,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Down 0.2%

Shares of NYSE RY opened at $169.28 on Friday. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $174.61. The firm has a market capitalization of $237.07 billion, a PE ratio of 16.88, a PEG ratio of 1.21 and a beta of 0.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $159.58 and a two-hundred day moving average price of $146.61.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. The company had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $12.12 billion. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.07 EPS. As a group, analysts predict that Royal Bank Of Canada will post 9.16 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 Tuesday, February 24th. Shareholders of record on Monday, January 26th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, January 26th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s payout ratio is currently 44.07%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RY shares. National Bankshares reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. Cowen upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Raymond James Financial initiated coverage on Royal Bank Of Canada in a research report on Monday, November 24th. They set a “moderate buy” rating for the company. Erste Group Bank raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. Finally, Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.