Kestra Advisory Services LLC Sells 132 Shares of Royal Bank of Canada (NYSE:RY)

Kestra Advisory Services LLC decreased its position in shares of Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,647 shares of the financial services provider’s stock after selling 132 shares during the quarter. Kestra Advisory Services LLC’s holdings in Royal Bank of Canada were worth $1,499,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RY. CIBC Private Wealth Group LLC increased its stake in shares of Royal Bank of Canada by 185.6% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 277 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 180 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Royal Bank of Canada in the 2nd quarter valued at $29,000. Financial Management Professionals Inc. increased its stake in shares of Royal Bank of Canada by 64.9% in the 3rd quarter. Financial Management Professionals Inc. now owns 343 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 135 shares in the last quarter. Venture Visionary Partners LLC bought a new stake in shares of Royal Bank of Canada in the 2nd quarter valued at $33,000. Finally, Win Advisors Inc. increased its stake in shares of Royal Bank of Canada by 70.3% in the 2nd quarter. Win Advisors Inc. now owns 356 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 147 shares in the last quarter. Institutional investors own 41.19% of the company’s stock.

Royal Bank of Canada Price Performance

RY opened at $100.75 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $139.62 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.77 and a beta of 0.84. The firm’s fifty day moving average price is $97.40 and its two-hundred day moving average price is $95.49. Royal Bank of Canada has a 1 year low of $83.63 and a 1 year high of $116.84.

Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) last issued its quarterly earnings results on Wednesday, November 30th. The financial services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.07. The company had revenue of $9.44 billion for the quarter. Royal Bank of Canada had a net margin of 23.66% and a return on equity of 16.33%. As a group, analysts anticipate that Royal Bank of Canada will post 8.63 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Thursday, January 26th will be issued a $0.9832 dividend. This represents a $3.93 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Wednesday, January 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 43.02%.

Wall Street Analysts Forecast Growth

RY has been the subject of several research reports. Canaccord Genuity Group lifted their price target on shares of Royal Bank of Canada from C$131.00 to C$136.00 and gave the company a “buy” rating in a research report on Thursday, December 1st. Bank of America raised shares of Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a research report on Monday, December 12th. Desjardins lifted their price target on shares of Royal Bank of Canada from C$140.00 to C$145.00 in a research report on Thursday, December 1st. Barclays assumed coverage on shares of Royal Bank of Canada in a research report on Thursday, September 29th. They issued an “overweight” rating for the company. Finally, Keefe, Bruyette & Woods raised shares of Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a report on Thursday, December 1st. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average target price of $140.09.

Royal Bank of Canada Company Profile

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Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support. The Personal and Commercial Banking segment deals with a broad suite of financial products and services in Canada.