Capital Investment Counsel Inc Cuts Stock Holdings in Royal Bank Of Canada $RY

Capital Investment Counsel Inc trimmed its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 42.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,015 shares of the financial services provider’s stock after selling 4,500 shares during the quarter. Capital Investment Counsel Inc’s holdings in Royal Bank Of Canada were worth $1,025,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Florida Trust Wealth Management Co increased its holdings in shares of Royal Bank Of Canada by 2.8% during the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock valued at $373,000 after purchasing an additional 60 shares in the last quarter. Fiduciary Financial Group LLC increased its holdings in shares of Royal Bank Of Canada by 3.4% during the 4th quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 61 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Royal Bank Of Canada by 1.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 74 shares in the last quarter. Advisory Resource Group increased its holdings in shares of Royal Bank Of Canada by 0.8% during the 3rd quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider’s stock valued at $1,342,000 after purchasing an additional 75 shares in the last quarter. Finally, Ballentine Partners LLC increased its holdings in shares of Royal Bank Of Canada by 1.5% during the 3rd quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock valued at $759,000 after purchasing an additional 75 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RY. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Raymond James Financial reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, February 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Finally, Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $171.94 on Monday. The firm has a market cap of $240.33 billion, a PE ratio of 16.45, a PEG ratio of 1.29 and a beta of 0.78. The firm has a fifty day moving average of $166.54 and a 200 day moving average of $160.46. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. Royal Bank Of Canada has a one year low of $110.14 and a one year high of $176.19.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.81 by $0.13. The company had revenue of $13.18 billion during the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.62 EPS. As a group, research analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada’s payout ratio is presently 45.74%.

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.