Five Oceans Advisors Has $785,000 Stake in Royal Bank of Canada (NYSE:RY)

Five Oceans Advisors reduced its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,968 shares of the financial services provider’s stock after selling 1,135 shares during the quarter. Five Oceans Advisors’ holdings in Royal Bank of Canada were worth $785,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Royal Bank of Canada by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock worth $427,589,000 after acquiring an additional 64,450 shares during the period. Raymond James Financial Inc. bought a new stake in Royal Bank of Canada in the 4th quarter valued at $60,034,000. Wealth High Governance Capital Ltda acquired a new position in Royal Bank of Canada in the 4th quarter valued at $10,243,000. Jones Financial Companies Lllp increased its position in Royal Bank of Canada by 1,322.0% during the 4th quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider’s stock worth $483,000 after buying an additional 3,728 shares during the period. Finally, Unigestion Holding SA increased its position in Royal Bank of Canada by 48.7% during the 1st quarter. Unigestion Holding SA now owns 210,566 shares of the financial services provider’s stock worth $23,705,000 after buying an additional 68,939 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Scotiabank assumed coverage on shares of Royal Bank of Canada in a research report on Thursday, May 15th. They set a “sector outperform” rating on the stock. Wall Street Zen cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, May 31st. Barclays reiterated an “overweight” rating on shares of Royal Bank of Canada in a research report on Monday, June 9th. National Bank Financial downgraded Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 30th. Finally, CIBC restated an “outperform” rating on shares of Royal Bank of Canada in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at $128.89 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a market cap of $181.81 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89. The company has a 50 day moving average of $122.20 and a 200-day moving average of $119.91. Royal Bank of Canada has a 1-year low of $102.52 and a 1-year high of $130.00.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.05). Royal Bank of Canada had a net margin of 12.08% and a return on equity of 15.26%. The business had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. During the same period in the prior year, the business posted $2.92 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities research analysts forecast that Royal Bank of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be paid a dividend of $1.1152 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Thursday, July 24th. This represents a $4.46 annualized dividend and a yield of 3.46%. Royal Bank of Canada’s payout ratio is presently 49.78%.

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.