Franklin Street Advisors Inc. NC Has $3.02 Million Stake in Royal Bank of Canada (NYSE:RY)

Franklin Street Advisors Inc. NC reduced its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 11.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,840 shares of the financial services provider’s stock after selling 3,900 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Royal Bank of Canada were worth $3,018,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vident Investment Advisory LLC raised its position in shares of Royal Bank of Canada by 1.1% in the 1st quarter. Vident Investment Advisory LLC now owns 9,935 shares of the financial services provider’s stock valued at $1,095,000 after acquiring an additional 105 shares during the period. Laurel Wealth Advisors Inc. raised its holdings in Royal Bank of Canada by 6.3% in the first quarter. Laurel Wealth Advisors Inc. now owns 2,284 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 135 shares during the period. SOA Wealth Advisors LLC. boosted its position in shares of Royal Bank of Canada by 10.2% during the third quarter. SOA Wealth Advisors LLC. now owns 1,626 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 151 shares in the last quarter. Aviance Capital Partners LLC grew its holdings in shares of Royal Bank of Canada by 4.4% in the 3rd quarter. Aviance Capital Partners LLC now owns 3,628 shares of the financial services provider’s stock valued at $317,000 after buying an additional 152 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of Royal Bank of Canada by 1.2% in the 4th quarter. Pacer Advisors Inc. now owns 13,008 shares of the financial services provider’s stock valued at $1,315,000 after buying an additional 154 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

RY has been the topic of several recent analyst reports. Barclays started coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They set an “equal weight” rating on the stock. Jefferies Financial Group assumed coverage on Royal Bank of Canada in a research report on Thursday, February 22nd. They issued a “hold” rating for the company. Bank of America raised shares of Royal Bank of Canada from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th. Finally, StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $131.50.

Royal Bank of Canada Stock Up 0.5 %

Shares of Royal Bank of Canada stock opened at $100.88 on Friday. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $102.07. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The business’s 50 day simple moving average is $98.37 and its 200 day simple moving average is $92.99. The firm has a market cap of $142.71 billion, a PE ratio of 12.71, a P/E/G ratio of 1.72 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, topping analysts’ consensus estimates 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 analyst estimates of $10.10 billion. On average, analysts predict that Royal Bank of Canada will post 8.5 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 of this dividend is Wednesday, April 24th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 4.05%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s payout ratio is currently 37.66%.

About Royal Bank of Canada

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.