RFG Advisory LLC Has $339,000 Stake in Royal Bank Of Canada $RY

RFG Advisory LLC reduced its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 86.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,097 shares of the financial services provider’s stock after selling 13,499 shares during the quarter. RFG Advisory LLC’s holdings in Royal Bank Of Canada were worth $339,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RY. Harvest Fund Management Co. Ltd bought a new stake in Royal Bank Of Canada in the 4th quarter valued at $25,000. Tradewinds Capital Management LLC bought a new position in Royal Bank Of Canada during the fourth quarter worth $26,000. Johnson Financial Group Inc. acquired a new position in shares of Royal Bank Of Canada in the third quarter valued at $27,000. Highline Wealth Partners LLC increased its holdings in shares of Royal Bank Of Canada by 75.4% in the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Royal Bank Of Canada by 55.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 88 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Up 1.0%

RY opened at $206.85 on Wednesday. The stock has a fifty day moving average of $189.78 and a 200-day moving average of $175.70. The company has a market capitalization of $287.47 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.62 and a beta of 0.81. Royal Bank Of Canada has a fifty-two week low of $127.38 and a fifty-two week high of $207.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same period in the prior year, the company posted $3.12 earnings per share. Royal Bank Of Canada’s revenue was up 11.4% compared to the same quarter last year. On average, equities analysts expect that Royal Bank Of Canada will post 11.45 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, July 27th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 42.41%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RY. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Finally, TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Profile

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.