Pacifica Partners Inc. Sells 2,026 Shares of Royal Bank of Canada (NYSE:RY)

Pacifica Partners Inc. lowered its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,967 shares of the financial services provider's stock after selling 2,026 shares during the period. Royal Bank of Canada comprises 2.0% of Pacifica Partners Inc.'s holdings, making the stock its 16th largest position. Pacifica Partners Inc.'s holdings in Royal Bank of Canada were worth $4,372,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of RY. Brighton Jones LLC raised its holdings in shares of Royal Bank of Canada by 33.1% in the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock worth $279,000 after purchasing an additional 575 shares during the period. Fifth Third Bancorp raised its holdings in shares of Royal Bank of Canada by 46.7% in the 4th quarter. Fifth Third Bancorp now owns 4,712 shares of the financial services provider's stock worth $568,000 after purchasing an additional 1,500 shares during the period. PFG Investments LLC bought a new stake in shares of Royal Bank of Canada in the 4th quarter worth approximately $215,000. Kingswood Wealth Advisors LLC raised its holdings in shares of Royal Bank of Canada by 78.7% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 2,923 shares of the financial services provider's stock worth $352,000 after purchasing an additional 1,287 shares during the period. Finally, Crews Bank & Trust bought a new stake in shares of Royal Bank of Canada in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Price Performance

Shares of RY traded up $1.20 during mid-day trading on Monday, reaching $127.86. 1,063,091 shares of the stock traded hands, compared to its average volume of 1,133,790. The firm has a fifty day moving average price of $118.80 and a 200 day moving average price of $119.61. The company has a market cap of $180.85 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 1 year low of $102.44 and a 1 year high of $129.46.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank of Canada had a return on equity of 15.26% and a net margin of 12.08%. The company had revenue of $11.38 billion during the quarter, compared to analysts' expectations of $15.77 billion. During the same quarter last year, the firm posted $2.92 earnings per share. The firm's revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts predict that Royal Bank of Canada will post 9.16 earnings per share for the current 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 paid a $1.1152 dividend. The ex-dividend date of this dividend is Thursday, July 24th. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a yield of 3.49%. Royal Bank of Canada's payout ratio is currently 46.18%.

Analyst Ratings Changes

A number of research firms recently commented on RY. Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Wall Street Zen lowered shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a research note on Saturday. Scotiabank initiated coverage on shares of Royal Bank of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating for the company. National Bank Financial lowered shares of Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday. Finally, CIBC reiterated an "outperform" rating on shares of Royal Bank of Canada in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $156.50.

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.