Stephens Inc. AR Trims Stock Position in Royal Bank of Canada (NYSE:RY)

Stephens Inc. AR lessened its stake in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 22.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 8,693 shares of the financial services provider’s stock after selling 2,476 shares during the quarter. Stephens Inc. AR’s holdings in Royal Bank of Canada were worth $959,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RY. International Assets Investment Management LLC lifted its position in shares of Royal Bank of Canada by 66.2% during the 4th quarter. International Assets Investment Management LLC now owns 17,270 shares of the financial services provider’s stock worth $142,000 after buying an additional 6,879 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Royal Bank of Canada by 1.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,789 shares of the financial services provider’s stock worth $5,921,000 after buying an additional 601 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Royal Bank of Canada by 4.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 85,929 shares of the financial services provider’s stock worth $9,120,000 after buying an additional 3,608 shares during the last quarter. Yousif Capital Management LLC purchased a new stake in shares of Royal Bank of Canada during the 4th quarter worth approximately $2,354,000. Finally, CWM LLC acquired a new position in shares of Royal Bank of Canada in the 4th quarter valued at $139,000. Hedge funds and other institutional investors own 41.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Stifel Nicolaus cut their target price on shares of Royal Bank of Canada from C$152.00 to C$150.00 in a report on Friday, April 8th. Scotiabank cut their target price on shares of Royal Bank of Canada from C$150.00 to C$147.00 in a report on Friday, May 20th. Credit Suisse Group cut their target price on shares of Royal Bank of Canada from C$153.00 to C$152.00 in a report on Friday, May 27th. National Bank Financial lifted their target price on shares of Royal Bank of Canada from C$147.00 to C$148.00 in a report on Friday, May 27th. Finally, CIBC raised shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Monday, April 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus price target of $143.84.

Royal Bank of Canada Stock Performance

Shares of RY opened at $97.51 on Monday. The stock has a market capitalization of $135.98 billion, a P/E ratio of 10.67, a P/E/G ratio of 2.11 and a beta of 0.90. Royal Bank of Canada has a 1 year low of $90.75 and a 1 year high of $119.41. The company’s fifty day moving average is $98.42 and its two-hundred day moving average is $105.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.88 and a current ratio of 0.88.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last issued its earnings results on Thursday, May 26th. The financial services provider reported $2.36 EPS for the quarter, topping the consensus estimate of $2.08 by $0.28. The company had revenue of $8.86 billion for the quarter. Royal Bank of Canada had a net margin of 28.54% and a return on equity of 17.97%. On average, sell-side analysts predict that Royal Bank of Canada will post 8.86 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Tuesday, July 26th will be given a dividend of $0.995 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.94. This represents a $3.98 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Monday, July 25th. Royal Bank of Canada’s payout ratio is presently 43.54%.

Royal Bank of Canada Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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