Chemistry Wealth Management LLC Has $403,000 Position in Royal Bank of Canada (NYSE:RY)

Chemistry Wealth Management LLC decreased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,991 shares of the financial services provider’s stock after selling 312 shares during the period. Chemistry Wealth Management LLC’s holdings in Royal Bank of Canada were worth $403,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Affinity Capital Advisors LLC acquired a new stake in shares of Royal Bank of Canada in the first quarter valued at approximately $647,000. Miller Howard Investments Inc. NY increased its stake in shares of Royal Bank of Canada by 7.1% in the first quarter. Miller Howard Investments Inc. NY now owns 512,184 shares of the financial services provider’s stock valued at $51,669,000 after buying an additional 33,792 shares during the period. Pacifica Partners Inc. raised its stake in Royal Bank of Canada by 0.5% during the first quarter. Pacifica Partners Inc. now owns 41,007 shares of the financial services provider’s stock worth $4,076,000 after buying an additional 185 shares during the last quarter. Executive Wealth Group LLC lifted its stake in shares of Royal Bank of Canada by 201.8% in the 1st quarter. Executive Wealth Group LLC now owns 30,191 shares of the financial services provider’s stock valued at $2,975,000 after purchasing an additional 20,186 shares during the period. Finally, Gulf International Bank UK Ltd grew its position in shares of Royal Bank of Canada by 5.0% during the 1st quarter. Gulf International Bank UK Ltd now owns 9,056 shares of the financial services provider’s stock worth $913,000 after buying an additional 434 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock traded down $0.76 during trading on Wednesday, reaching $105.60. The company had a trading volume of 368,633 shares, compared to its average volume of 1,102,815. The firm has a market capitalization of $149.43 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.67 and a beta of 0.87. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $109.51. The firm’s 50-day simple moving average is $103.33 and its 200 day simple moving average is $100.49. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 30th. The financial services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. The firm had revenue of $10.43 billion during the quarter, compared to analyst estimates of $9.95 billion. Royal Bank of Canada had a net margin of 12.12% and a return on equity of 14.87%. Sell-side analysts forecast that Royal Bank of Canada will post 8.47 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be given a dividend of $1.03 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.90%. Royal Bank of Canada’s dividend payout ratio is presently 50.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RY shares. BMO Capital Markets lowered Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 31st. Argus boosted their price target on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. 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. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Finally, Jefferies Financial Group upgraded Royal Bank of Canada from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.25.

Royal Bank of Canada 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.