Dynamic Advisor Solutions LLC Sells 3,457 Shares of Royal Bank of Canada (NYSE:RY)

Dynamic Advisor Solutions LLC cut its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 54.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,909 shares of the financial services provider’s stock after selling 3,457 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Royal Bank of Canada were worth $351,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC raised its holdings in Royal Bank of Canada by 75.8% in the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after buying an additional 7,702,585 shares during the last quarter. CIBC Asset Management Inc increased its position in Royal Bank of Canada by 0.9% in the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after acquiring an additional 124,348 shares during the period. Geode Capital Management LLC raised its stake in shares of Royal Bank of Canada by 9.3% during the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after acquiring an additional 541,760 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of Royal Bank of Canada by 3.7% during the third quarter. Fiera Capital Corp now owns 4,759,385 shares of the financial services provider’s stock worth $594,791,000 after purchasing an additional 171,125 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Royal Bank of Canada by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,483,591 shares of the financial services provider’s stock worth $435,253,000 after purchasing an additional 122,311 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. BMO Capital Markets reduced their target price on 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. Finally, TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $122.61 on Tuesday. The stock has a market capitalization of $173.42 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.81 and a beta of 0.87. Royal Bank of Canada has a 52-week low of $93.97 and a 52-week high of $128.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50 day moving average price is $122.47 and its two-hundred day moving average price is $119.90.

Royal Bank of Canada Increases Dividend

The business also recently declared 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%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.85%.

About Royal Bank of Canada

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.