Aviance Capital Partners LLC Sells 118 Shares of Royal Bank of Canada (NYSE:RY)

Aviance Capital Partners LLC lessened its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,510 shares of the financial services provider’s stock after selling 118 shares during the quarter. Aviance Capital Partners LLC’s holdings in Royal Bank of Canada were worth $355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its stake in Royal Bank of Canada by 6.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 24,560 shares of the financial services provider’s stock valued at $2,148,000 after purchasing an additional 1,548 shares during the last quarter. Raymond James & Associates boosted its holdings in Royal Bank of Canada by 5.8% in the third quarter. Raymond James & Associates now owns 349,519 shares of the financial services provider’s stock worth $30,562,000 after purchasing an additional 19,305 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Royal Bank of Canada by 1.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 126,060 shares of the financial services provider’s stock worth $11,023,000 after purchasing an additional 1,561 shares during the period. WealthShield Partners LLC purchased a new stake in Royal Bank of Canada during the 3rd quarter valued at $219,000. Finally, Value Partners Investments Inc. lifted its holdings in shares of Royal Bank of Canada by 12.8% during the 3rd quarter. Value Partners Investments Inc. now owns 755,979 shares of the financial services provider’s stock valued at $66,371,000 after buying an additional 85,510 shares during the period. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays assumed coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. 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 for the company. Finally, BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $140.00 to $150.00 in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada currently has an average rating of “Hold” and a consensus price target of $137.67.

Royal Bank of Canada Price Performance

Shares of RY traded down $0.78 during trading hours on Tuesday, reaching $101.04. 634,532 shares of the stock traded hands, compared to its average volume of 1,230,324. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week 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 company has a market cap of $142.95 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 1.74 and a beta of 0.86. The company’s 50-day moving average price is $99.32 and its two-hundred day moving average price is $95.65.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. The firm had revenue of $9.98 billion during the quarter, compared to analyst estimates of $10.10 billion. On average, analysts anticipate 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 announced 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 annualized dividend and a dividend yield of 4.04%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 25.31%.

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.