Chemistry Wealth Management LLC Has $403,000 Position in Royal Bank of Canada (NYSE:RY)

Chemistry Wealth Management LLC decreased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,991 shares of the financial services provider’s stock after selling 312 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Royal Bank of Canada were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Altrius Capital Management Inc increased its position in shares of Royal Bank of Canada by 3.3% in the fourth quarter. Altrius Capital Management Inc now owns 67,790 shares of the financial services provider’s stock valued at $6,856,000 after acquiring an additional 2,165 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Royal Bank of Canada by 3.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 480,825 shares of the financial services provider’s stock valued at $48,863,000 after purchasing an additional 15,041 shares during the last quarter. Triasima Portfolio Management inc. boosted its stake in shares of Royal Bank of Canada by 5.5% in the 4th quarter. Triasima Portfolio Management inc. now owns 984,891 shares of the financial services provider’s stock valued at $99,785,000 after purchasing an additional 50,995 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Royal Bank of Canada by 163.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 160,595 shares of the financial services provider’s stock worth $16,271,000 after buying an additional 99,523 shares during the last quarter. Finally, Addenda Capital Inc. increased its stake in shares of Royal Bank of Canada by 2.1% in the fourth quarter. Addenda Capital Inc. now owns 836,019 shares of the financial services provider’s stock valued at $84,547,000 after buying an additional 16,964 shares during the period. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

RY has been the subject of several recent analyst reports. Argus raised their target price on Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, May 31st. Scotiabank raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. Barclays began coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They set an “equal weight” rating on the stock. Finally, BMO Capital Markets downgraded shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 31st. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.25.

Royal Bank of Canada Stock Down 0.7 %

RY stock traded down $0.76 during trading on Wednesday, reaching $105.60. The stock had a trading volume of 368,633 shares, compared to its average volume of 1,102,815. The firm has a fifty day moving average price of $103.33 and a 200 day moving average price of $100.49. Royal Bank of Canada has a 1-year low of $77.90 and a 1-year high of $109.51. The company has a market capitalization of $149.43 billion, a P/E ratio of 13.10, a PEG ratio of 1.67 and a beta of 0.87. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 30th. The financial services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.12. The company had revenue of $10.43 billion for the quarter, compared to the consensus estimate of $9.95 billion. Royal Bank of Canada had a net margin of 12.12% and a return on equity of 14.87%. On average, equities analysts anticipate that Royal Bank of Canada will post 8.47 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be paid a dividend of $1.03 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date is Thursday, July 25th. This represents a $4.12 annualized dividend and a yield of 3.90%. Royal Bank of Canada’s dividend payout ratio is presently 50.62%.

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.