Stephens Inc. AR Decreases Stock Position in Royal Bank of Canada (NYSE:RY)

Stephens Inc. AR decreased its stake in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 19.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,169 shares of the financial services provider’s stock after selling 2,727 shares during the quarter. Stephens Inc. AR’s holdings in Royal Bank of Canada were worth $1,185,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RY. BOKF NA purchased a new position in Royal Bank of Canada during the third quarter worth approximately $220,000. First Republic Investment Management Inc. lifted its position in Royal Bank of Canada by 26.3% during the third quarter. First Republic Investment Management Inc. now owns 21,523 shares of the financial services provider’s stock worth $2,141,000 after buying an additional 4,485 shares in the last quarter. Vident Investment Advisory LLC lifted its position in Royal Bank of Canada by 13.2% during the third quarter. Vident Investment Advisory LLC now owns 9,774 shares of the financial services provider’s stock worth $971,000 after buying an additional 1,138 shares in the last quarter. Geode Capital Management LLC increased its stake in Royal Bank of Canada by 13.3% during the third quarter. Geode Capital Management LLC now owns 3,636,235 shares of the financial services provider’s stock worth $361,099,000 after acquiring an additional 427,847 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Royal Bank of Canada by 1.6% during the third quarter. Oppenheimer & Co. Inc. now owns 18,924 shares of the financial services provider’s stock worth $1,883,000 after acquiring an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 41.50% of the company’s stock.

NYSE RY traded up $2.35 during trading on Friday, reaching $103.04. 1,135,956 shares of the company’s stock were exchanged, compared to its average volume of 1,297,833. The stock has a market cap of $144.62 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50 day moving average price of $105.21 and a two-hundred day moving average price of $107.35. Royal Bank of Canada has a 1 year low of $95.02 and a 1 year high of $119.41.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last announced its quarterly earnings results on Thursday, February 24th. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.13. The company had revenue of $10.37 billion during the quarter. Royal Bank of Canada had a return on equity of 18.28% and a net margin of 28.16%. Research analysts forecast that Royal Bank of Canada will post 8.67 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Tuesday, July 26th will be issued a $0.995 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.94. This represents a $3.98 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Monday, July 25th. Royal Bank of Canada’s payout ratio is presently 42.71%.

Several research firms have issued reports on RY. CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Monday, April 11th. National Bank Financial raised their target price on Royal Bank of Canada from C$147.00 to C$148.00 in a research note on Friday. BMO Capital Markets cut their target price on Royal Bank of Canada from C$142.00 to C$140.00 in a research note on Friday. Canaccord Genuity Group cut Royal Bank of Canada from a “buy” rating to a “hold” rating and lifted their price objective for the company from $141.00 to $148.00 in a research note on Monday, February 7th. Finally, TD Securities dropped their price objective on Royal Bank of Canada from C$150.00 to C$145.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Royal Bank of Canada has a consensus rating of “Buy” and an average target price of $144.05.

Royal Bank of Canada Profile (Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY).

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

Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.