Tandem Investment Advisors Inc. Decreases Holdings in Royal Bank of Canada (NYSE:RY)

Tandem Investment Advisors Inc. cut its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 19.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,000 shares of the financial services provider’s stock after selling 2,106 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in Royal Bank of Canada were worth $910,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RY. Vanguard Group Inc. grew its stake in shares of Royal Bank of Canada by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 53,127,219 shares of the financial services provider’s stock worth $4,645,444,000 after acquiring an additional 717,971 shares during the period. Mackenzie Financial Corp grew its stake in shares of Royal Bank of Canada by 5.4% during 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 acquiring an additional 1,369,723 shares during the period. Bank of Nova Scotia grew its stake in shares of Royal Bank of Canada by 13.0% during the 3rd quarter. Bank of Nova Scotia now owns 26,666,961 shares of the financial services provider’s stock worth $2,330,506,000 after acquiring an additional 3,062,038 shares during the period. Norges Bank bought a new position in shares of Royal Bank of Canada during the 4th quarter worth $1,583,609,000. Finally, CIBC Asset Management Inc grew its stake in shares of Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 12,413,445 shares of the financial services provider’s stock worth $1,088,176,000 after acquiring an additional 106,757 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Royal Bank of Canada in a research note on Thursday, February 22nd. They set a “hold” rating for the company. Barclays started coverage on Royal Bank of Canada in a research note on Wednesday, March 20th. They set an “equal weight” rating for the company. BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $140.00 to $150.00 in a research note on Friday, April 5th. Finally, StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $137.67.

Royal Bank of Canada Price Performance

NYSE RY traded up $0.38 during trading hours on Wednesday, hitting $96.78. The company had a trading volume of 821,002 shares, compared to its average volume of 1,191,970. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $103.88. The firm has a 50 day simple moving average of $98.96 and a 200 day simple moving average of $94.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $136.91 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 1.69 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, topping the consensus estimate of $2.06 by $0.05. The business had revenue of $9.98 billion during the quarter, compared to the consensus estimate of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. Equities research analysts expect that Royal Bank of Canada will post 8.45 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be given a dividend of $1.0207 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Wednesday, April 24th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s dividend payout ratio (DPR) is 37.66%.

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.