Turn8 Private Wealth Inc. Sells 3,825 Shares of Royal Bank Of Canada $RY

Turn8 Private Wealth Inc. lessened its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 12.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,931 shares of the financial services provider’s stock after selling 3,825 shares during the quarter. Royal Bank Of Canada makes up 3.4% of Turn8 Private Wealth Inc.’s holdings, making the stock its 9th biggest position. Turn8 Private Wealth Inc.’s holdings in Royal Bank Of Canada were worth $4,764,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Florida Trust Wealth Management Co grew its position in Royal Bank Of Canada by 2.8% during the fourth quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock valued at $373,000 after buying an additional 60 shares during the period. Fiduciary Financial Group LLC lifted its holdings in Royal Bank Of Canada by 3.4% during the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 61 shares in the last quarter. Alta Capital Management LLC lifted its holdings in Royal Bank Of Canada by 4.0% during the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Royal Bank Of Canada by 1.6% during the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 74 shares in the last quarter. Finally, Burney Co. lifted its holdings in Royal Bank Of Canada by 1.7% during the fourth quarter. Burney Co. now owns 4,425 shares of the financial services provider’s stock valued at $754,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on RY. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Friday. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Key Headlines Impacting Royal Bank Of Canada

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Royal Bank of Canada reported quarterly earnings and revenue above analyst expectations, helped by stronger-than-forecast results across most business segments and lower loan-loss provisions. RBC Beats Estimates on Strong Results Across Its Business Lines
• Positive Sentiment: The company increased its quarterly dividend to $1.76 per share from $1.64, signaling management confidence in earnings power and capital strength. Royal Bank Of Canada Price Performance
• Positive Sentiment: Management sounded upbeat on the Canadian economy and said it is not worried about fintech competition, reinforcing the view that RBC can defend its market position. RBC CEO not afraid of competition, dismisses possibility of fintech disruption
• Neutral Sentiment: Insider buying was reported in a separate RIAEX filing tied to Global Asset Management (U.S.) Inc. RBC, but it does not appear directly related to Royal Bank of Canada’s public shares. Insider Purchase: 10% owner at $RIAEX Buys 1,956,000 Shares

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $189.92 on Friday. Royal Bank Of Canada has a twelve month low of $124.19 and a twelve month high of $191.51. The company has a market cap of $265.45 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.49 and a beta of 0.80. The company’s 50-day moving average price is $175.27 and its 200-day moving average price is $168.46. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The firm had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same period last year, the business earned $3.12 earnings per share. Royal Bank Of Canada’s revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Royal Bank Of Canada will post 11.53 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.7%. Royal Bank Of Canada’s dividend payout ratio (DPR) is 42.41%.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.