Wealth Enhancement Advisory Services LLC Increases Stake in Royal Bank of Canada (NYSE:RY)

Wealth Enhancement Advisory Services LLC increased its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,189 shares of the financial services provider's stock after acquiring an additional 2,340 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Royal Bank of Canada were worth $4,000,000 at the end of the most recent quarter.

Several other hedge funds have 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 4th quarter worth approximately $25,000. Roxbury Financial LLC acquired a new position in Royal Bank of Canada during the fourth quarter worth approximately $29,000. WealthTrak Capital Management LLC purchased a new stake in Royal Bank of Canada in the 4th quarter valued at $28,000. Optiver Holding B.V. purchased a new stake in shares of Royal Bank of Canada in the fourth quarter valued at about $35,000. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in Royal Bank of Canada during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on RY. Wall Street Zen cut 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 Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Scotiabank started coverage on Royal Bank of Canada in a report 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 report on Friday, May 30th. Finally, CIBC reiterated an "outperform" rating on shares of Royal Bank of Canada in a report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE:RY traded down $0.40 during midday trading on Thursday, hitting $126.97. 894,953 shares of the stock were exchanged, compared to its average volume of 1,135,435. Royal Bank of Canada has a twelve month low of $102.44 and a twelve month high of $129.46. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average price of $119.59 and a 200-day moving average price of $119.76. The stock has a market cap of $179.58 billion, a P/E ratio of 15.37, a PEG ratio of 1.80 and a beta of 0.89.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results 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 net margin of 12.08% and a return on equity of 15.26%. The business had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. During the same quarter in the prior year, the company earned $2.92 earnings per share. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts forecast that Royal Bank of Canada will post 9.16 earnings per share for the current 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 paid a dividend of $1.1152 per share. The ex-dividend date is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.51%. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.03. Royal Bank of Canada's dividend payout ratio (DPR) is presently 47.56%.

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.