Triasima Portfolio Management inc. Sells 7,528 Shares of Royal Bank of Canada (NYSE:RY)

Triasima Portfolio Management inc. lessened its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 305,386 shares of the financial services provider’s stock after selling 7,528 shares during the quarter. Royal Bank of Canada makes up 7.1% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its biggest position. Triasima Portfolio Management inc.’s holdings in Royal Bank of Canada were worth $36,803,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RY. AQR Capital Management LLC purchased a new stake in shares of Royal Bank of Canada in the 2nd quarter valued at $453,000. Cetera Investment Advisers increased its stake in Royal Bank of Canada by 27.9% during the second quarter. Cetera Investment Advisers now owns 32,057 shares of the financial services provider’s stock worth $3,410,000 after purchasing an additional 7,000 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Royal Bank of Canada during the second quarter worth about $1,541,000. Hexagon Capital Partners LLC boosted its stake in shares of Royal Bank of Canada by 13.8% in the third quarter. Hexagon Capital Partners LLC now owns 1,571 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 191 shares during the period. Finally, Bruce G. Allen Investments LLC increased its stake in Royal Bank of Canada by 122.8% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 751 shares of the financial services provider’s stock worth $94,000 after buying an additional 414 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Up 0.2 %

Shares of NYSE:RY opened at $119.34 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a 50 day simple moving average of $122.04 and a 200-day simple moving average of $120.40. The company has a market capitalization of $168.78 billion, a PE ratio of 14.45, a P/E/G ratio of 1.82 and a beta of 0.87. Royal Bank of Canada has a twelve month low of $93.97 and a twelve month high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be paid a $1.0522 dividend. This represents a $4.21 annualized dividend and a yield of 3.53%. The ex-dividend date 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 dividend payout ratio is currently 49.76%.

Wall Street Analysts Forecast Growth

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

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.