Simplicity Solutions LLC Purchases 571 Shares of Royal Bank of Canada (NYSE:RY)

Simplicity Solutions LLC boosted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 12.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,125 shares of the financial services provider’s stock after acquiring an additional 571 shares during the period. Simplicity Solutions LLC’s holdings in Royal Bank of Canada were worth $518,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in Royal Bank of Canada in the 3rd quarter worth $26,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Royal Bank of Canada in the 3rd quarter worth $34,000. Money Concepts Capital Corp bought a new stake in Royal Bank of Canada in the 4th quarter worth $38,000. Cullen Frost Bankers Inc. bought a new stake in Royal Bank of Canada in the 3rd quarter worth $44,000. Finally, Janiczek Wealth Management LLC grew its holdings in Royal Bank of Canada by 36.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 197 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

RY has been the subject of several research analyst reports. 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. Barclays initiated coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Jefferies Financial Group initiated coverage on shares of Royal Bank of Canada in a research report on Thursday, February 22nd. They issued a “hold” rating for the company. Finally, BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $140.00 to $150.00 in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $137.67.

Royal Bank of Canada Trading Up 0.2 %

Shares of NYSE RY opened at $96.93 on Friday. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $103.88. The stock has a market cap of $137.13 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.67 and a beta of 0.86. The firm has a 50-day moving average of $98.96 and a 200 day moving average of $94.13. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89.

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, topping the consensus estimate of $2.06 by $0.05. The business had revenue of $9.98 billion during the quarter, compared to analysts’ expectations of $10.10 billion. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. As a group, sell-side analysts expect that Royal Bank of Canada will post 8.45 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a $1.0207 dividend. The ex-dividend date of this dividend 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 dividend yield of 4.21%. Royal Bank of Canada’s payout ratio is currently 37.66%.

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.