Gradient Investments LLC cut its stake in shares of Royal Bank of Canada (NYSE:RY – Free Report) (TSE:RY) by 22.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,612 shares of the financial services provider’s stock after selling 1,022 shares during the period. Gradient Investments LLC’s holdings in Royal Bank of Canada were worth $435,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Royal Bank of Canada during the third quarter worth $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada during the 3rd quarter worth $25,000. Larson Financial Group LLC purchased a new stake in Royal Bank of Canada during the 3rd quarter worth $26,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after buying an additional 118 shares in the last quarter. Finally, Grove Bank & Trust purchased a new position in Royal Bank of Canada in the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on RY. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Finally, BMO Capital Markets cut their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.50.
Royal Bank of Canada Trading Up 0.4 %
NYSE:RY opened at $122.62 on Friday. The company has a market cap of $173.43 billion, a PE ratio of 14.85, a P/E/G ratio of 1.81 and a beta of 0.87. The business’s 50 day moving average is $122.47 and its two-hundred day moving average is $119.77. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 52 week low of $93.97 and a 52 week high of $128.05.
Royal Bank of Canada Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a $1.0522 dividend. This represents a $4.21 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Monday, January 27th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is currently 50.85%.
Royal Bank of Canada Company 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.
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