Independent Advisor Alliance Decreases Stake in Royal Bank Of Canada (NYSE:RY)

Key Points

• Independent Advisor Alliance reduced its stake in the Royal Bank of Canada by 16% in the first quarter, holding 14,595 shares worth approximately $1.65 million at the end of the reporting period.
• The Royal Bank of Canada recently reported earnings of $2.20 per share for the last quarter, missing analysts' expectations, with revenue of $11.38 billion.
• The bank raised its quarterly dividend to $1.1152 per share, increasing its annualized dividend to $4.46 with a yield of 3.3%.

Independent Advisor Alliance lessened its position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 16.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,595 shares of the financial services provider's stock after selling 2,787 shares during the quarter. Independent Advisor Alliance's holdings in Royal Bank Of Canada were worth $1,645,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RY. Park Square Financial Group LLC purchased a new stake in Royal Bank Of Canada during the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. grew its holdings in shares of Royal Bank Of Canada by 2,272.7% during the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock valued at $29,000 after buying an additional 250 shares during the last quarter. Optiver Holding B.V. purchased a new stake in shares of Royal Bank Of Canada during the fourth quarter valued at $35,000. Transce3nd LLC acquired a new position in shares of Royal Bank Of Canada in the 4th quarter valued at $37,000. Finally, Cullen Frost Bankers Inc. raised its stake in Royal Bank Of Canada by 295.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock worth $39,000 after acquiring an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

RY has been the topic of a number of research reports. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday. CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Scotiabank started coverage on shares of Royal Bank Of Canada in a research report on Thursday, May 15th. They set a "sector outperform" rating for the company. National Bank Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Finally, Wall Street Zen lowered shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. One analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Royal Bank Of Canada presently has an average rating of "Moderate Buy" and an average target price of $193.00.

Royal Bank Of Canada Price Performance

NYSE RY traded up $0.58 during trading hours on Thursday, hitting $136.49. 1,349,310 shares of the company's stock traded hands, compared to its average volume of 1,336,066. The company has a market capitalization of $191.87 billion, a PE ratio of 15.17, a PEG ratio of 1.55 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $136.59. The firm's 50-day moving average is $130.83 and its 200-day moving average is $122.68.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). The firm had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The firm's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.92 EPS. Equities analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be given a $1.1152 dividend. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 annualized dividend and a yield of 3.3%. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's dividend payout ratio is 50.33%.

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.