Prospera Financial Services Inc Sells 6,024 Shares of Royal Bank Of Canada $RY

Key Points

• Prospera Financial Services cut its Royal Bank of Canada stake by 43% in the fourth quarter, selling 6,024 shares and ending with 7,994 shares valued at about $1.36 million.
• Royal Bank of Canada reported strong recent earnings, with EPS and revenue both beating expectations, supported by broad business strength and lower-than-expected loan-loss provisions.
• The bank also raised its quarterly dividend to $1.76 per share from $1.64, a 7.3% increase that signals confidence in its earnings and capital generation.

Prospera Financial Services Inc lessened its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 43.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,994 shares of the financial services provider's stock after selling 6,024 shares during the period. Prospera Financial Services Inc's holdings in Royal Bank Of Canada were worth $1,363,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RY. Truist Financial Corp boosted its stake in shares of Royal Bank Of Canada by 10.6% during the 3rd quarter. Truist Financial Corp now owns 101,173 shares of the financial services provider's stock valued at $14,905,000 after purchasing an additional 9,677 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Royal Bank Of Canada by 2.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 344,993 shares of the financial services provider's stock valued at $50,824,000 after purchasing an additional 7,278 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Royal Bank Of Canada by 18.5% during the 4th quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider's stock valued at $16,407,000 after purchasing an additional 15,046 shares in the last quarter. Rathbones Group PLC boosted its stake in shares of Royal Bank Of Canada by 9.0% during the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider's stock valued at $55,480,000 after purchasing an additional 26,782 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Royal Bank Of Canada by 3.6% during the 3rd quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider's stock valued at $1,219,924,000 after purchasing an additional 287,504 shares in the last quarter. Institutional investors own 45.31% of the company's stock.

Key Headlines Impacting Royal Bank Of Canada

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Royal Bank of Canada beat quarterly earnings and revenue estimates, with EPS of $2.84 topping consensus and revenue rising 11.4% year over year, helped by stronger results across most business lines and lower-than-expected loan-loss provisions. Earnings release
• Positive Sentiment: The bank raised its quarterly dividend to $1.76 per share from $1.64, a 7.3% increase, signaling confidence in earnings strength and capital generation. Dividend news
• Positive Sentiment: Management said it is not worried about fintech disruption and highlighted the resilience of the Canadian economy, which supports the outlook for RBC’s core banking franchise. CEO comments on fintech
• Neutral Sentiment: Analysts continue to view Royal Bank of Canada as a “Moderate Buy,” and short interest fell sharply in May, which is a favorable positioning signal but not a direct fundamental catalyst. Analyst and short-interest update
• Negative Sentiment: Some coverage noted that RY had recently underperformed the market on a down day, though that appears secondary to the stronger earnings and dividend news. Recent weakness

Wall Street Analyst Weigh In

RY has been the topic of a number of research reports. Zacks Research lowered shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 3rd. Weiss Ratings lowered shares of Royal Bank Of Canada from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 18th. Raymond James Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 12th. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Finally, Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $162.00.

Royal Bank Of Canada Stock Down 0.1%

Shares of Royal Bank Of Canada stock opened at $188.99 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $264.16 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.48 and a beta of 0.80. Royal Bank Of Canada has a 52-week low of $124.19 and a 52-week high of $191.51. The company has a 50-day simple moving average of $174.72 and a two-hundred day simple moving average of $168.31.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.13. The business had revenue of $13.18 billion during the quarter, compared to analysts' expectations of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.62 earnings per share. On average, analysts anticipate that Royal Bank Of Canada will post 11.53 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a $1.76 dividend. This represents a $7.04 annualized dividend and a yield of 3.7%. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada's dividend payout ratio is presently 45.17%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada NYSE: RY is a diversified financial services company and one of Canada's largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.

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