Western Wealth Management LLC Reduces Holdings in Royal Bank of Canada (NYSE:RY)

Western Wealth Management LLC trimmed its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,977 shares of the financial services provider’s stock after selling 373 shares during the period. Western Wealth Management LLC’s holdings in Royal Bank of Canada were worth $1,312,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its position in Royal Bank of Canada by 5.3% during the 1st quarter. BlackRock Inc. now owns 817,482 shares of the financial services provider’s stock worth $90,144,000 after purchasing an additional 41,346 shares during the last quarter. Raymond James Trust N.A. grew its position in Royal Bank of Canada by 5.7% during the 1st quarter. Raymond James Trust N.A. now owns 7,030 shares of the financial services provider’s stock worth $775,000 after purchasing an additional 382 shares during the last quarter. Blair William & Co. IL grew its position in Royal Bank of Canada by 2.0% during the 1st quarter. Blair William & Co. IL now owns 23,498 shares of the financial services provider’s stock worth $2,591,000 after purchasing an additional 458 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Royal Bank of Canada by 47.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,942 shares of the financial services provider’s stock worth $545,000 after purchasing an additional 1,582 shares during the last quarter. Finally, Thomas White International Ltd. grew its position in Royal Bank of Canada by 4.6% during the 1st quarter. Thomas White International Ltd. now owns 15,778 shares of the financial services provider’s stock worth $1,740,000 after purchasing an additional 701 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Up 1.0 %

Shares of NYSE RY opened at $97.86 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $103.88. The firm has a 50-day moving average price of $98.97 and a 200 day moving average price of $94.22. The stock has a market capitalization of $138.44 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.67 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $10.10 billion. Equities research 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 announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be issued a dividend of $1.0207 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 37.66%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RY shares. BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $140.00 to $150.00 in a research note on Friday, April 5th. Jefferies Financial Group started coverage on shares of Royal Bank of Canada in a research note on Thursday, February 22nd. They issued a “hold” rating for the company. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Finally, Barclays assumed coverage on shares of Royal Bank of Canada in a research note on Wednesday, March 20th. They issued an “equal weight” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $137.67.

Royal Bank of Canada Profile

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.