Cumberland Partners Ltd Trims Holdings in Royal Bank of Canada (NYSE:RY)

Cumberland Partners Ltd lowered its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,428 shares of the financial services provider’s stock after selling 8,675 shares during the period. Royal Bank of Canada accounts for about 3.1% of Cumberland Partners Ltd’s investment portfolio, making the stock its 9th largest position. Cumberland Partners Ltd’s holdings in Royal Bank of Canada were worth $36,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of RY. Banque Cantonale Vaudoise bought a new stake in Royal Bank of Canada in the third quarter worth $26,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Royal Bank of Canada during the third quarter valued at $34,000. Cullen Frost Bankers Inc. bought a new position in Royal Bank of Canada during the third quarter valued at $44,000. Janiczek Wealth Management LLC increased its position in Royal Bank of Canada by 36.8% during the fourth quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 197 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV bought a new position in Royal Bank of Canada during the fourth quarter valued at $105,000. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on RY. BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $140.00 to $150.00 in a research report on Friday, April 5th. Jefferies Financial Group began coverage on shares of Royal Bank of Canada in a research report on Thursday, February 22nd. They set a “hold” rating on the stock. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Barclays initiated coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They set an “equal weight” rating on the stock. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $137.67.

Royal Bank of Canada Trading Up 0.6 %

Shares of RY traded up $0.63 during trading hours on Tuesday, reaching $99.83. 1,953,905 shares of the company traded hands, compared to its average volume of 1,216,801. The firm has a market cap of $141.23 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.69 and a beta of 0.86. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $103.88. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average price is $99.10 and its 200 day moving average price is $94.60.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.05. The firm had revenue of $9.98 billion during the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. Sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a $1.0207 dividend. The ex-dividend date is Wednesday, April 24th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 dividend on an annualized basis and a yield of 4.09%. Royal Bank of Canada’s dividend payout ratio 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.