Aviance Capital Partners LLC Sells 521 Shares of Royal Bank of Canada (NYSE:RY)

Aviance Capital Partners LLC lessened its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,989 shares of the financial services provider’s stock after selling 521 shares during the quarter. Aviance Capital Partners LLC’s holdings in Royal Bank of Canada were worth $302,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Canoe Financial LP raised its holdings in Royal Bank of Canada by 11,061.2% in the 4th quarter. Canoe Financial LP now owns 151,142,403 shares of the financial services provider’s stock worth $15,285,031,000 after acquiring an additional 149,788,224 shares during the period. Vanguard Group Inc. raised its holdings in Royal Bank of Canada by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 54,730,646 shares of the financial services provider’s stock worth $5,534,910,000 after acquiring an additional 1,603,427 shares during the period. TD Asset Management Inc raised its holdings in Royal Bank of Canada by 21.7% in the 4th quarter. TD Asset Management Inc now owns 32,571,491 shares of the financial services provider’s stock worth $3,310,010,000 after acquiring an additional 5,810,077 shares during the period. Bank of Nova Scotia raised its holdings in Royal Bank of Canada by 5.1% in the 4th quarter. Bank of Nova Scotia now owns 28,024,917 shares of the financial services provider’s stock worth $2,834,219,000 after acquiring an additional 1,357,956 shares during the period. Finally, Mackenzie Financial Corp grew its position in Royal Bank of Canada by 5.4% in the 4th quarter. Mackenzie Financial Corp now owns 26,869,809 shares of the financial services provider’s stock worth $2,718,631,000 after purchasing an additional 1,369,723 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

RY has been the topic of several research analyst reports. Barclays initiated coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Argus raised their price target on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Scotiabank upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. Finally, BMO Capital Markets lowered shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 31st. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average price target of $133.25.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock traded up $0.58 during trading on Monday, hitting $106.96. 30,569 shares of the company’s stock traded hands, compared to its average volume of 1,085,513. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s fifty day moving average price is $103.86 and its 200 day moving average price is $100.76. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $109.51. The company has a market cap of $151.36 billion, a PE ratio of 13.20, a PEG ratio of 1.67 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 30th. The financial services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.12. Royal Bank of Canada had a net margin of 12.12% and a return on equity of 14.87%. The business had revenue of $10.43 billion for the quarter, compared to analyst estimates of $9.95 billion. Analysts forecast that Royal Bank of Canada will post 8.47 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be given a $1.03 dividend. The ex-dividend date is Thursday, July 25th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a yield of 3.85%. Royal Bank of Canada’s payout ratio is 50.62%.

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, 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.