Ritholtz Wealth Management Decreases Position in Royal Bank Of Canada (NYSE:RY)

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

Several other institutional investors also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new position in Royal Bank Of Canada during the fourth quarter worth about $25,000. WealthTrak Capital Management LLC purchased a new position in Royal Bank Of Canada in the 4th quarter worth approximately $28,000. Roxbury Financial LLC acquired a new position in shares of Royal Bank Of Canada during the 4th quarter worth approximately $29,000. Optiver Holding B.V. purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $35,000. Finally, Transce3nd LLC purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $37,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Scotiabank assumed coverage on Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating on the stock. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. Wall Street Zen lowered shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Cibc World Mkts raised shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, National Bank Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. 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 assigned 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 target price of $193.00.

Royal Bank Of Canada Trading Up 0.0%

Shares of NYSE:RY traded up $0.04 during midday trading on Thursday, reaching $128.03. 719,839 shares of the company's stock were exchanged, compared to its average volume of 1,139,150. The stock has a market cap of $180.60 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 1.47 and a beta of 0.89. Royal Bank Of Canada has a fifty-two week low of $102.52 and a fifty-two week high of $130.00. The firm's 50 day simple moving average is $122.77 and its two-hundred day simple moving average is $120.02. 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 (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 for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The company had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. During the same quarter in the prior year, the business earned $2.92 earnings per share. Royal Bank Of Canada's revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that Royal Bank Of Canada will post 9.16 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 Friday, August 22nd. Shareholders 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. The ex-dividend date is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a yield of 3.48%. 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.