Live Oak Private Wealth LLC Reduces Position in Royal Bank of Canada (NYSE:RY)

Live Oak Private Wealth LLC lessened its holdings in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,034 shares of the financial services provider’s stock after selling 5,046 shares during the period. Royal Bank of Canada comprises approximately 1.3% of Live Oak Private Wealth LLC’s investment portfolio, making the stock its 23rd biggest position. Live Oak Private Wealth LLC’s holdings in Royal Bank of Canada were worth $6,951,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RY. Blue Bell Private Wealth Management LLC bought a new stake in shares of Royal Bank of Canada during the fourth quarter valued at approximately $37,000. Stonehage Fleming Financial Services Holdings Ltd raised its stake in shares of Royal Bank of Canada by 54.0% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 385 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 135 shares in the last quarter. Allegheny Financial Group LTD bought a new stake in shares of Royal Bank of Canada during the fourth quarter valued at approximately $48,000. FSB Premier Wealth Management Inc. bought a new stake in shares of Royal Bank of Canada during the fourth quarter valued at approximately $58,000. Finally, TAP Consulting LLC bought a new stake in shares of Royal Bank of Canada during the fourth quarter valued at approximately $74,000. Institutional investors and hedge funds own 41.50% of the company’s stock.

NYSE:RY traded down $0.31 during mid-day trading on Friday, hitting $96.51. The company’s stock had a trading volume of 28,833 shares, compared to its average volume of 1,229,903. Royal Bank of Canada has a 1 year low of $94.23 and a 1 year high of $119.41. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $135.45 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 2.12 and a beta of 0.90. The business’s fifty day moving average is $100.18 and its two-hundred day moving average is $106.82.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Tuesday, July 26th will be issued a $0.995 dividend. This represents a $3.98 annualized dividend and a yield of 4.12%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, July 25th. Royal Bank of Canada’s dividend payout ratio is presently 42.01%.

A number of equities analysts recently commented on the stock. Scotiabank reduced their price objective on shares of Royal Bank of Canada from C$150.00 to C$147.00 in a research note on Friday, May 20th. Credit Suisse Group reduced their price objective on shares of Royal Bank of Canada from C$153.00 to C$152.00 in a research note on Friday, May 27th. BMO Capital Markets reduced their price objective on shares of Royal Bank of Canada from C$142.00 to C$140.00 in a research note on Friday, May 27th. Argus upped their price target on Royal Bank of Canada from $121.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 6th. Finally, TD Securities reduced their price target on Royal Bank of Canada from C$150.00 to C$145.00 in a research report on Friday, May 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.84.

Royal Bank of Canada Company Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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