Mission Wealth Management LP Trims Holdings in Royal Bank of Canada (NYSE:RY)

Mission Wealth Management LP decreased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,649 shares of the financial services provider’s stock after selling 266 shares during the period. Mission Wealth Management LP’s holdings in Royal Bank of Canada were worth $268,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RY. Certuity LLC purchased a new stake in shares of Royal Bank of Canada in the fourth quarter worth about $209,000. Kestra Private Wealth Services LLC lifted its stake in Royal Bank of Canada by 36.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 3,726 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 990 shares in the last quarter. Altrius Capital Management Inc boosted its holdings in Royal Bank of Canada by 3.3% in the 4th quarter. Altrius Capital Management Inc now owns 67,790 shares of the financial services provider’s stock valued at $6,856,000 after purchasing an additional 2,165 shares during the period. Fiduciary Group LLC purchased a new position in shares of Royal Bank of Canada during the 4th quarter valued at $218,000. Finally, Transcend Capital Advisors LLC bought a new position in shares of Royal Bank of Canada in the fourth quarter worth $202,000. Institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RY has been the subject of several research analyst reports. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Jefferies Financial Group initiated coverage on Royal Bank of Canada in a report on Thursday, February 22nd. They set a “hold” rating for the company. Barclays started coverage on shares of Royal Bank of Canada in a research note on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Finally, BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $140.00 to $150.00 in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Hold” and a consensus price target of $137.67.

Royal Bank of Canada Stock Performance

Shares of NYSE RY opened at $101.17 on Friday. The stock’s 50-day moving average is $99.11 and its 200 day moving average is $95.10. The stock has a market cap of $143.13 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 1.71 and a beta of 0.86. Royal Bank of Canada has a 1-year low of $77.90 and a 1-year high of $103.88. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $2.11 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 for the quarter, compared to the consensus estimate of $10.10 billion. On average, sell-side analysts anticipate that Royal Bank of Canada will post 8.45 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be given a dividend of $1.0207 per share. This represents a $4.08 annualized dividend and a yield of 4.04%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio is presently 25.31%.

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.