Wealth Enhancement Advisory Services LLC Sells 2,758 Shares of Royal Bank of Canada (NYSE:RY)

Wealth Enhancement Advisory Services LLC lowered its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 8.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 29,806 shares of the financial services provider’s stock after selling 2,758 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Royal Bank of Canada were worth $3,007,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in RY. First Horizon Advisors Inc. increased its holdings in shares of Royal Bank of Canada by 64.7% in the fourth quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider’s stock worth $48,000 after buying an additional 185 shares during the period. Mather Group LLC. purchased a new position in Royal Bank of Canada in the 1st quarter worth approximately $49,000. Addison Advisors LLC lifted its position in Royal Bank of Canada by 131.0% in the fourth quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. Heritage Wealth Advisors purchased a new stake in shares of Royal Bank of Canada during the fourth quarter valued at approximately $61,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Royal Bank of Canada by 192.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 716 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

RY has been the subject of several analyst reports. UBS Group began coverage on shares of Royal Bank of Canada in a research report on Tuesday. They set a “buy” rating for the company. BMO Capital Markets lowered shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, May 31st. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday. Scotiabank upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. Finally, Barclays began coverage on Royal Bank of Canada in a research note on Wednesday, March 20th. They set an “equal weight” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $133.25.

Royal Bank of Canada Stock Up 1.4 %

Shares of NYSE:RY opened at $109.02 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $109.60. The firm has a market capitalization of $154.27 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.67 and a beta of 0.86. The stock has a 50 day moving average price of $104.15 and a 200-day moving average price of $100.89.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 30th. The financial services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.03 by $0.12. The business had revenue of $10.43 billion during the quarter, compared to analyst estimates 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 research analysts anticipate that Royal Bank of Canada will post 8.47 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $4.12 annualized dividend and a yield of 3.78%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s payout ratio is presently 50.62%.

Royal Bank of Canada Company 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.