Shikiar Asset Management Inc. Lowers Holdings in Royal Bank Of Canada (NYSE:RY)

Shikiar Asset Management Inc. lowered its stake in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 49.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,040 shares of the financial services provider's stock after selling 50,617 shares during the period. Royal Bank Of Canada makes up approximately 1.8% of Shikiar Asset Management Inc.'s investment portfolio, making the stock its 21st biggest position. Shikiar Asset Management Inc.'s holdings in Royal Bank Of Canada were worth $5,866,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RY. Charles Schwab Investment Management Inc. lifted its stake in shares of Royal Bank Of Canada by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider's stock valued at $427,589,000 after purchasing an additional 64,450 shares during the last quarter. Raymond James Financial Inc. bought a new position in Royal Bank Of Canada during the 4th quarter valued at about $60,034,000. Wealth High Governance Capital Ltda bought a new stake in Royal Bank Of Canada in the fourth quarter worth about $10,243,000. Jones Financial Companies Lllp grew its stake in shares of Royal Bank Of Canada by 1,322.0% during the fourth quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider's stock valued at $483,000 after buying an additional 3,728 shares during the last quarter. Finally, Unigestion Holding SA lifted its stake in shares of Royal Bank Of Canada by 48.7% during the 1st quarter. Unigestion Holding SA now owns 210,566 shares of the financial services provider's stock worth $23,705,000 after acquiring an additional 68,939 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. 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. National Bank Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Cibc World Mkts upgraded shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Scotiabank initiated coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating for the company. Finally, CIBC restated an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $193.00.

Royal Bank Of Canada Stock Up 0.0%

RY traded up $0.04 on Thursday, hitting $128.03. The company had a trading volume of 719,839 shares, compared to its average volume of 1,139,150. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a fifty day moving average price of $122.77 and a 200-day moving average price of $120.02. Royal Bank Of Canada has a 12-month low of $102.52 and a 12-month high of $130.00.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The firm had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $15.77 billion. During the same quarter last year, the firm earned $2.92 EPS. The company's revenue was up 10.7% compared to the same quarter last year. Analysts predict 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. Stockholders of record on Thursday, July 24th will be given a dividend of $1.1152 per share. 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 dividend on an annualized basis and a dividend yield of 3.48%. Royal Bank Of Canada's dividend payout ratio is presently 49.78%.

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.