Royal Bank of Canada (NYSE:RY) Shares Sold by RFG Advisory LLC

RFG Advisory LLC reduced its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,962 shares of the financial services provider’s stock after selling 327 shares during the period. RFG Advisory LLC’s holdings in Royal Bank of Canada were worth $1,924,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RY. Addison Advisors LLC increased its position in shares of Royal Bank of Canada by 9.5% during the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 82 shares during the last quarter. Financial Management Professionals Inc. raised its position in Royal Bank of Canada by 26.8% in the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 90 shares during the period. Drive Wealth Management LLC lifted its stake in Royal Bank of Canada by 3.4% during the third quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 92 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of Royal Bank of Canada by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after buying an additional 94 shares during the period. Finally, Private Advisor Group LLC grew its stake in shares of Royal Bank of Canada by 1.6% in the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after buying an additional 95 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Up 0.4 %

Shares of Royal Bank of Canada stock opened at $122.62 on Friday. 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. The company has a market capitalization of $173.43 billion, a P/E ratio of 14.85, a P/E/G ratio of 1.81 and a beta of 0.87. The company has a 50 day moving average of $122.47 and a 200 day moving average of $119.77.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be paid a dividend of $1.0522 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.43%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is presently 50.85%.

Analyst Ratings Changes

A number of analysts have issued reports on RY shares. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets dropped their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.