Kathmere Capital Management LLC Decreases Stake in Royal Bank of Canada (NYSE:RY)

Kathmere Capital Management LLC lowered its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,821 shares of the financial services provider’s stock after selling 160 shares during the period. Kathmere Capital Management LLC’s holdings in Royal Bank of Canada were worth $285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RY. Fifth Third Bancorp raised its holdings in shares of Royal Bank of Canada by 9.5% during the fourth quarter. Fifth Third Bancorp now owns 2,412 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 210 shares during the last quarter. TIAA Trust National Association raised its holdings in shares of Royal Bank of Canada by 4.3% during the fourth quarter. TIAA Trust National Association now owns 13,035 shares of the financial services provider’s stock worth $1,318,000 after purchasing an additional 541 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Royal Bank of Canada during the fourth quarter worth $1,220,441,000. Prime Capital Investment Advisors LLC acquired a new stake in Royal Bank of Canada during the fourth quarter valued at $1,313,000. Finally, Spectrum Asset Management Inc. NB CA acquired a new stake in Royal Bank of Canada during the fourth quarter valued at $202,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE RY traded down $2.41 during trading on Friday, hitting $107.46. The company had a trading volume of 681,685 shares, compared to its average volume of 1,285,396. The stock has a fifty day simple moving average of $107.87 and a two-hundred day simple moving average of $102.50. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $112.67. The firm has a market capitalization of $152.06 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 1.70 and a beta of 0.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 30th. The financial services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.12. The firm had revenue of $10.43 billion for the quarter, compared to the consensus estimate of $9.95 billion. Royal Bank of Canada had a net margin of 12.12% and a return on equity of 14.87%. On average, research analysts expect that Royal Bank of Canada will post 8.59 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, August 23rd. Stockholders of record on Thursday, July 25th will be paid a $1.03 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Thursday, July 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 51.49%.

Analyst Ratings Changes

Several analysts recently commented on RY shares. BMO Capital Markets lowered shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 31st. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. UBS Group started coverage on shares of Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating on the stock. Jefferies Financial Group upgraded shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Finally, Scotiabank upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $133.25.

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.