Independent Advisor Alliance Has $1.65 Million Holdings in Royal Bank Of Canada (NYSE:RY)

Independent Advisor Alliance cut its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 16.0% during the 1st quarter, HoldingsChannel reports. The fund owned 14,595 shares of the financial services provider’s stock after selling 2,787 shares during the quarter. Independent Advisor Alliance’s holdings in Royal Bank Of Canada were worth $1,645,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. SBI Securities Co. Ltd. grew its stake in shares of Royal Bank Of Canada by 13.0% in the first quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 84 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Royal Bank Of Canada by 3.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider’s stock valued at $345,000 after acquiring an additional 90 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Royal Bank Of Canada by 2.8% in the first quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider’s stock valued at $378,000 after acquiring an additional 91 shares in the last quarter. Csenge Advisory Group grew its stake in Royal Bank Of Canada by 4.3% during the first quarter. Csenge Advisory Group now owns 2,197 shares of the financial services provider’s stock worth $255,000 after buying an additional 91 shares in the last quarter. Finally, Great Lakes Retirement Inc. grew its stake in Royal Bank Of Canada by 0.8% during the first quarter. Great Lakes Retirement Inc. now owns 11,362 shares of the financial services provider’s stock worth $1,281,000 after buying an additional 92 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 1.0%

RY opened at $134.74 on Wednesday. The company’s 50 day moving average is $130.47 and its 200-day moving average is $122.49. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $135.09. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a market cap of $189.42 billion, a P/E ratio of 14.97, a PEG ratio of 1.53 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.05). The business had revenue of $11.38 billion during the quarter, compared to the consensus estimate of $15.77 billion. Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.92 EPS. Equities research analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be issued a dividend of $1.1152 per share. This represents a $4.46 annualized dividend and a yield of 3.3%. The ex-dividend date is Thursday, July 24th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.03. Royal Bank Of Canada’s dividend payout ratio (DPR) is 50.33%.

Wall Street Analyst Weigh In

RY has been the topic of a number of analyst reports. Scotiabank initiated coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They set a “sector outperform” rating on the stock. Wall Street Zen downgraded shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. National Bank Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note on Friday, May 30th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. Finally, CIBC restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

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.