Fiduciary Trust Co. Has $287,000 Stock Position in Royal Bank of Canada (NYSE:RY)

Fiduciary Trust Co. reduced its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,502 shares of the financial services provider’s stock after selling 243 shares during the period. Fiduciary Trust Co.’s holdings in Royal Bank of Canada were worth $287,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its stake in shares of Royal Bank of Canada by 1.3% in the fourth quarter. International Assets Investment Management LLC now owns 10,281 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 131 shares during the period. Glassman Wealth Services increased its holdings in Royal Bank of Canada by 2.1% in the third quarter. Glassman Wealth Services now owns 7,173 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 150 shares in the last quarter. CENTRAL TRUST Co increased its holdings in Royal Bank of Canada by 5.4% in the fourth quarter. CENTRAL TRUST Co now owns 2,950 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 150 shares in the last quarter. Sheets Smith Wealth Management increased its holdings in Royal Bank of Canada by 1.2% in the third quarter. Sheets Smith Wealth Management now owns 13,147 shares of the financial services provider’s stock worth $922,000 after purchasing an additional 155 shares in the last quarter. Finally, Bfsg LLC increased its holdings in Royal Bank of Canada by 0.5% in the fourth quarter. Bfsg LLC now owns 35,705 shares of the financial services provider’s stock worth $2,930,000 after purchasing an additional 164 shares in the last quarter. 40.81% of the stock is currently owned by institutional investors.

Shares of NYSE:RY opened at $83.52 on Friday. The stock has a market cap of $118.94 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.75 and a beta of 0.99. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a 12-month low of $49.55 and a 12-month high of $86.14. The business’s 50 day moving average is $83.07 and its 200 day moving average is $76.80.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Tuesday, December 1st. The financial services provider reported $2.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.73. The company had revenue of $11.09 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Royal Bank of Canada had a return on equity of 14.84% and a net margin of 18.78%. Royal Bank of Canada’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.18 earnings per share. As a group, equities research analysts expect that Royal Bank of Canada will post 6.62 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 24th. Shareholders of record on Tuesday, January 26th will be given a $0.811 dividend. The ex-dividend date of this dividend is Monday, January 25th. This represents a $3.24 annualized dividend and a yield of 3.88%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.81. Royal Bank of Canada’s payout ratio is currently 57.17%.

A number of equities research analysts have weighed in on RY shares. Barclays lifted their target price on Royal Bank of Canada from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Thursday, November 12th. Scotiabank lifted their target price on Royal Bank of Canada from $122.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, December 3rd. CIBC boosted their price objective on Royal Bank of Canada from $127.00 to $128.00 and gave the company a “neutral” rating in a report on Thursday, December 3rd. Canaccord Genuity boosted their price objective on Royal Bank of Canada from $107.50 to $113.50 and gave the company a “hold” rating in a report on Thursday, December 3rd. Finally, Veritas Investment Research upgraded Royal Bank of Canada from a “sell” rating to a “buy” rating in a report on Thursday, October 29th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $104.95.

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, 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.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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