Royal Bank of Canada (NYSE:RY) Shares Sold by Leisure Capital Management

Leisure Capital Management lowered its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 21.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,087 shares of the financial services provider’s stock after selling 2,409 shares during the period. Leisure Capital Management’s holdings in Royal Bank of Canada were worth $919,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its stake in shares of Royal Bank of Canada by 7.0% in the 4th quarter. Russell Investments Group Ltd. now owns 955,746 shares of the financial services provider’s stock worth $97,128,000 after acquiring an additional 62,447 shares during the period. Addison Advisors LLC lifted its stake in shares of Royal Bank of Canada by 131.0% in the 4th quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 300 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in shares of Royal Bank of Canada in the 4th quarter worth $490,000. K.J. Harrison & Partners Inc lifted its stake in shares of Royal Bank of Canada by 23.9% in the 4th quarter. K.J. Harrison & Partners Inc now owns 200,486 shares of the financial services provider’s stock worth $20,312,000 after acquiring an additional 38,662 shares during the period. Finally, Callan Capital LLC acquired a new stake in shares of Royal Bank of Canada in the 4th quarter worth $288,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 0.5 %

Shares of NYSE RY traded up $0.48 during midday trading on Friday, reaching $98.16. 502,507 shares of the stock were exchanged, compared to its average volume of 1,261,320. The company has a market capitalization of $138.87 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.68 and a beta of 0.86. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week 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. The stock has a 50 day moving average price of $99.11 and a 200-day moving average price of $94.73.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (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 business had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $10.10 billion. Equities research analysts expect that Royal Bank of Canada will post 8.45 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be given a $1.0207 dividend. The ex-dividend date is Wednesday, April 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 annualized dividend and a dividend yield of 4.16%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 25.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RY. BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and increased their price target for the company from $140.00 to $150.00 in a report on Friday, April 5th. Jefferies Financial Group assumed coverage on shares of Royal Bank of Canada in a report on Thursday, February 22nd. They set a “hold” rating for the company. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Finally, Barclays assumed coverage on shares of Royal Bank of Canada in a report on Wednesday, March 20th. They set an “equal weight” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $137.67.

Royal Bank of Canada Company 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.