Capital Wealth Planning LLC trimmed its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 33.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,900 shares of the financial services provider’s stock after selling 10,000 shares during the period. Capital Wealth Planning LLC’s holdings in Royal Bank of Canada were worth $1,677,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Clearview Wealth Advisors LLC purchased a new position in shares of Royal Bank of Canada during the fourth quarter worth $29,000. Jeppson Wealth Management LLC purchased a new position in shares of Royal Bank of Canada during the third quarter worth $32,000. Goodwin Investment Advisory purchased a new position in shares of Royal Bank of Canada during the fourth quarter worth $32,000. International Assets Investment Management LLC raised its holdings in shares of Royal Bank of Canada by 1.3% during the fourth quarter. International Assets Investment Management LLC now owns 10,281 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 131 shares during the last quarter. Finally, South State CORP. purchased a new position in shares of Royal Bank of Canada during the third quarter worth $38,000. Institutional investors and hedge funds own 40.81% of the company’s stock.
RY has been the subject of several recent research reports. CIBC raised their target price on shares of Royal Bank of Canada from $127.00 to $128.00 and gave the stock a “neutral” rating in a report on Thursday, December 3rd. Canaccord Genuity lifted their price objective on shares of Royal Bank of Canada from $107.50 to $113.50 and gave the company a “hold” rating in a report on Thursday, December 3rd. Scotiabank lifted their price objective on shares of Royal Bank of Canada from $122.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, December 3rd. Barclays lifted their price objective on shares of Royal Bank of Canada from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, November 12th. Finally, Zacks Investment Research raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Friday, November 20th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $104.68.
RY traded down $0.90 on Monday, reaching $83.40. 2,363,624 shares of the company’s stock were exchanged, compared to its average volume of 1,143,822. The stock has a market cap of $118.61 billion, a PE ratio of 14.14, a P/E/G ratio of 1.75 and a beta of 0.99. Royal Bank of Canada has a twelve month low of $49.55 and a twelve month high of $86.14. The stock’s fifty day moving average price is $83.11 and its 200-day moving average price is $75.87. 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 results on Tuesday, December 1st. The financial services provider reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.73. The firm had revenue of $11.09 billion for the quarter, compared to analyst estimates of $11.45 billion. Royal Bank of Canada had a net margin of 18.78% and a return on equity of 14.84%. Royal Bank of Canada’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.18 earnings per share. As a group, research analysts predict that Royal Bank of Canada will post 6.62 earnings per share for the current fiscal year.
The firm 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. The ex-dividend date of this dividend is Monday, January 25th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.81. This represents a $3.24 dividend on an annualized basis and a yield of 3.89%. Royal Bank of Canada’s payout ratio is presently 54.64%.
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, 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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