Prospera Financial Services Inc Sells 6,024 Shares of Royal Bank Of Canada $RY

Prospera Financial Services Inc cut its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 43.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,994 shares of the financial services provider’s stock after selling 6,024 shares during the period. Prospera Financial Services Inc’s holdings in Royal Bank Of Canada were worth $1,363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Florida Trust Wealth Management Co grew its stake in shares of Royal Bank Of Canada by 2.8% in the fourth quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock worth $373,000 after acquiring an additional 60 shares during the period. Fiduciary Financial Group LLC grew its stake in shares of Royal Bank Of Canada by 3.4% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 61 shares during the period. Alta Capital Management LLC grew its stake in shares of Royal Bank Of Canada by 4.0% in the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 65 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Royal Bank Of Canada by 1.6% in the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock worth $713,000 after acquiring an additional 74 shares during the period. Finally, Ballentine Partners LLC grew its stake in shares of Royal Bank Of Canada by 1.5% in the third quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock worth $759,000 after acquiring an additional 75 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Weiss Ratings lowered shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Stock Performance

Shares of NYSE RY opened at $188.99 on Friday. The firm has a 50 day moving average of $174.72 and a 200 day moving average of $168.31. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $264.16 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.48 and a beta of 0.80. Royal Bank Of Canada has a 12-month low of $124.19 and a 12-month high of $191.51.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.13. The company had revenue of $13.18 billion during the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.62 earnings per share. On average, research analysts anticipate that Royal Bank Of Canada will post 11.53 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a $1.76 dividend. 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 dividend on an annualized basis and a dividend yield of 3.7%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 45.17%.

Key Royal Bank Of Canada News

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

• Positive Sentiment: Royal Bank of Canada beat quarterly earnings and revenue estimates, with EPS of $2.84 topping consensus and revenue rising 11.4% year over year, helped by stronger results across most business lines and lower-than-expected loan-loss provisions. Earnings release
• Positive Sentiment: The bank raised its quarterly dividend to $1.76 per share from $1.64, a 7.3% increase, signaling confidence in earnings strength and capital generation. Dividend news
• Positive Sentiment: Management said it is not worried about fintech disruption and highlighted the resilience of the Canadian economy, which supports the outlook for RBC’s core banking franchise. CEO comments on fintech
• Neutral Sentiment: Analysts continue to view Royal Bank of Canada as a “Moderate Buy,” and short interest fell sharply in May, which is a favorable positioning signal but not a direct fundamental catalyst. Analyst and short-interest update
• Negative Sentiment: Some coverage noted that RY had recently underperformed the market on a down day, though that appears secondary to the stronger earnings and dividend news. Recent weakness

Royal Bank Of Canada Company Profile

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.