Royal Bank of Canada (NYSE:RY) Shares Sold by Aspiriant LLC

Aspiriant LLC lessened its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,647 shares of the financial services provider’s stock after selling 1,668 shares during the quarter. Aspiriant LLC’s holdings in Royal Bank of Canada were worth $3,092,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Cigna Investments Inc. New increased its stake in shares of Royal Bank of Canada by 0.5% during the fourth quarter. Cigna Investments Inc. New now owns 26,187 shares of the financial services provider’s stock worth $2,661,000 after buying an additional 131 shares during the period. Pacer Advisors Inc. increased its stake in shares of Royal Bank of Canada by 1.2% during the fourth quarter. Pacer Advisors Inc. now owns 13,008 shares of the financial services provider’s stock worth $1,315,000 after buying an additional 154 shares during the period. Raymond James Trust N.A. increased its stake in shares of Royal Bank of Canada by 2.0% during the fourth quarter. Raymond James Trust N.A. now owns 7,830 shares of the financial services provider’s stock worth $792,000 after buying an additional 157 shares during the period. Founders Financial Alliance LLC increased its stake in shares of Royal Bank of Canada by 1.5% during the fourth quarter. Founders Financial Alliance LLC now owns 11,075 shares of the financial services provider’s stock worth $1,120,000 after buying an additional 168 shares during the period. Finally, CWM LLC increased its stake in shares of Royal Bank of Canada by 7.9% during the fourth quarter. CWM LLC now owns 2,384 shares of the financial services provider’s stock worth $241,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Jefferies Financial Group upgraded shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Scotiabank upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th. BMO Capital Markets lowered shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 31st. Argus increased their price target on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus price target of $133.25.

Royal Bank of Canada Stock Performance

Shares of RY opened at $105.60 on Thursday. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $109.51. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The company’s 50 day simple moving average is $103.33 and its 200-day simple moving average is $100.49. The firm has a market cap of $149.43 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.67 and a beta of 0.87.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, May 30th. The financial services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. The company had revenue of $10.43 billion during the quarter, compared to the consensus estimate of $9.95 billion. Royal Bank of Canada had a return on equity of 14.87% and a net margin of 12.12%. As a group, equities analysts predict that Royal Bank of Canada will post 8.47 EPS 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 23rd. Investors of record on Thursday, July 25th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Thursday, July 25th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.62%.

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.