Klingenstein Fields & Co. LP Cuts Stock Position in Royal Bank of Canada (NYSE:RY)


Klingenstein Fields & Co. LP lessened its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,900 shares of the financial services provider’s stock after selling 150 shares during the period. Klingenstein Fields & Co. LP’s holdings in Royal Bank of Canada were worth $238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clearview Wealth Advisors LLC acquired a new stake in Royal Bank of Canada in the fourth quarter worth about $29,000. Goodwin Investment Advisory acquired a new stake in Royal Bank of Canada in the fourth quarter worth about $32,000. Jeppson Wealth Management LLC acquired a new stake in Royal Bank of Canada in the third quarter worth about $32,000. JJJ Advisors Inc. lifted its holdings in shares of Royal Bank of Canada by 675.9% during the fourth quarter. JJJ Advisors Inc. now owns 450 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 392 shares during the period. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth about $41,000. 40.81% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada stock opened at $83.52 on Friday. The stock has a market capitalization of $118.94 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99. Royal Bank of Canada has a 12 month low of $49.55 and a 12 month high of $86.14. The business has a 50 day simple moving average of $83.07 and a 200-day simple moving average of $76.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.89 and a quick ratio of 0.89.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Tuesday, December 1st. The financial services provider reported $2.27 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.73. Royal Bank of Canada had a return on equity of 14.84% and a net margin of 18.78%. The business had revenue of $11.09 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period in the previous year, the business earned $2.18 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Royal Bank of Canada will post 6.62 EPS for the current fiscal year.

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

A number of equities research analysts recently commented on RY shares. Veritas Investment Research raised Royal Bank of Canada from a “sell” rating to a “buy” rating in a report on Thursday, October 29th. 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. 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. Canaccord Genuity lifted their target price on Royal Bank of Canada from $107.50 to $113.50 and gave the stock a “hold” rating in a report on Thursday, December 3rd. Finally, CIBC lifted their target price on Royal Bank of Canada from $127.00 to $128.00 and gave the stock a “neutral” rating in a report on Thursday, December 3rd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Royal Bank of Canada has a consensus rating of “Buy” and a consensus 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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