Triangle Securities Wealth Management Sells 257 Shares of Royal Bank of Canada (NYSE:RY)


Triangle Securities Wealth Management lessened its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,108 shares of the financial services provider’s stock after selling 257 shares during the quarter. Triangle Securities Wealth Management’s holdings in Royal Bank of Canada were worth $583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Mercer Global Advisors Inc. ADV boosted its position in shares of Royal Bank of Canada by 11.6% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 9,366 shares of the financial services provider’s stock valued at $657,000 after acquiring an additional 971 shares during the last quarter. Brinker Capital Investments LLC purchased a new position in shares of Royal Bank of Canada during the 3rd quarter valued at about $273,000. Eudaimonia Partners LLC raised its holdings in shares of Royal Bank of Canada by 6.9% during the 3rd quarter. Eudaimonia Partners LLC now owns 4,699 shares of the financial services provider’s stock valued at $330,000 after buying an additional 305 shares in the last quarter. Advisor Partners LLC raised its holdings in shares of Royal Bank of Canada by 11.5% during the 3rd quarter. Advisor Partners LLC now owns 17,235 shares of the financial services provider’s stock valued at $1,209,000 after buying an additional 1,780 shares in the last quarter. Finally, Jeppson Wealth Management LLC purchased a new position in shares of Royal Bank of Canada during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 40.16% of the company’s stock.

A number of equities analysts recently weighed in on RY shares. Scotiabank raised their price objective on Royal Bank of Canada from $122.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, December 3rd. Canaccord Genuity raised 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. Barclays raised their price objective on Royal Bank of Canada from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, November 12th. CIBC lifted their price target on Royal Bank of Canada from $127.00 to $128.00 and gave the stock a “neutral” rating in a research note on Thursday, December 3rd. Finally, ValuEngine cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, December 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $104.68.

RY opened at $84.40 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $120.17 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.84 and a beta of 0.94. The company has a fifty day moving average of $82.45 and a 200 day moving average of $74.82. Royal Bank of Canada has a fifty-two week low of $49.55 and a fifty-two week high of $85.73.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Tuesday, December 1st. The financial services provider reported $2.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.73. The firm had revenue of $11.09 billion during the quarter, compared to analyst estimates of $11.45 billion. Royal Bank of Canada had a return on equity of 14.86% and a net margin of 17.78%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.18 earnings per share. On average, equities research analysts forecast that Royal Bank of Canada will post 5.68 earnings per share for the current year.

The business 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 $0.811 dividend. The ex-dividend date is Monday, January 25th. This represents a $3.24 annualized dividend and a yield of 3.84%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.81. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 48.43%.

Royal Bank of Canada 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.

See Also: Cash Asset Ratio

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



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