Stephens Inc. AR Lowers Holdings in Royal Bank Of Canada $RY

Stephens Inc. AR trimmed its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 78.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,706 shares of the financial services provider’s stock after selling 35,232 shares during the quarter. Stephens Inc. AR’s holdings in Royal Bank Of Canada were worth $1,570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of RY. HighTower Advisors LLC lifted its position in shares of Royal Bank Of Canada by 18.5% in the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after buying an additional 15,046 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Royal Bank Of Canada by 6.1% during the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after acquiring an additional 368,534 shares in the last quarter. Rathbones Group PLC raised its holdings in shares of Royal Bank Of Canada by 9.0% during the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock worth $55,480,000 after acquiring an additional 26,782 shares in the last quarter. Indivisible Partners bought a new position in shares of Royal Bank Of Canada during the 4th quarter valued at approximately $7,335,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Royal Bank Of Canada during the 4th quarter valued at approximately $49,450,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $208.58 on Friday. The firm has a 50-day moving average price of $193.99 and a 200-day moving average price of $177.68. The firm has a market capitalization of $289.88 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.63 and a beta of 0.80. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 12-month low of $127.38 and a 12-month high of $209.64.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued 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 company 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 firm posted $3.12 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast 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 annualized dividend and a dividend yield of 3.4%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RY shares. Weiss Ratings cut shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 29th. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Company 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.