Ritholtz Wealth Management Trims Holdings in Royal Bank of Canada (NYSE:RY)

Ritholtz Wealth Management decreased its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 16.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,423 shares of the financial services provider's stock after selling 6,502 shares during the quarter. Ritholtz Wealth Management's holdings in Royal Bank of Canada were worth $3,767,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Ruggaard & Associates LLC lifted its stake in Royal Bank of Canada by 1.8% in the 4th quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider's stock valued at $565,000 after purchasing an additional 85 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Royal Bank of Canada by 3.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock valued at $345,000 after purchasing an additional 90 shares during the period. Sivia Capital Partners LLC increased its position in shares of Royal Bank of Canada by 2.8% during the first quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider's stock worth $378,000 after buying an additional 91 shares during the period. Baird Financial Group Inc. increased its position in Royal Bank of Canada by 1.1% in the 4th quarter. Baird Financial Group Inc. now owns 9,904 shares of the financial services provider's stock valued at $1,194,000 after buying an additional 110 shares in the last quarter. Finally, Muirfield Wealth Advisors LLC raised its holdings in shares of Royal Bank of Canada by 0.7% in the 1st quarter. Muirfield Wealth Advisors LLC now owns 16,802 shares of the financial services provider's stock worth $1,894,000 after acquiring an additional 122 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RY has been the topic of a number of analyst reports. CIBC reaffirmed an "outperform" rating on shares of Royal Bank of Canada in a report on Tuesday, May 20th. Wall Street Zen lowered shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. National Bank Financial cut Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Scotiabank began coverage on Royal Bank of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating on the stock. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank of Canada in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $193.00.

Royal Bank of Canada Stock Performance

RY traded up $1.14 during trading on Monday, hitting $128.89. The company's stock had a trading volume of 811,402 shares, compared to its average volume of 1,282,753. The business's 50 day simple moving average is $121.79 and its 200-day simple moving average is $119.89. Royal Bank of Canada has a one year low of $102.52 and a one year high of $130.00. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a market cap of $181.81 billion, a PE ratio of 15.60, a P/E/G ratio of 1.80 and a beta of 0.89.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last posted 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 return on equity of 15.26% and a net margin of 12.08%. The business had revenue of $11.38 billion during the quarter, compared to the consensus estimate of $15.77 billion. During the same quarter last year, the firm earned $2.92 earnings per share. The business's quarterly revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts predict that Royal Bank of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be given a $1.1152 dividend. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Thursday, July 24th. Royal Bank of Canada's dividend payout ratio (DPR) 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.