Royal Bank of Canada (NYSE:RY) Shares Sold by LGT Group Foundation

LGT Group Foundation cut its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 47.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,163 shares of the financial services provider’s stock after selling 3,705 shares during the quarter. LGT Group Foundation’s holdings in Royal Bank of Canada were worth $501,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RY. Farther Finance Advisors LLC raised its holdings in Royal Bank of Canada by 42.0% during the third quarter. Farther Finance Advisors LLC now owns 8,907 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 2,636 shares during the last quarter. PDS Planning Inc raised its holdings in shares of Royal Bank of Canada by 4.8% in the third quarter. PDS Planning Inc now owns 3,875 shares of the financial services provider’s stock worth $483,000 after acquiring an additional 176 shares during the last quarter. Balentine LLC acquired a new position in shares of Royal Bank of Canada in the third quarter worth $677,000. Capital Performance Advisors LLP acquired a new position in shares of Royal Bank of Canada in the third quarter worth $25,000. Finally, Fiera Capital Corp raised its holdings in shares of Royal Bank of Canada by 3.7% in the third quarter. Fiera Capital Corp now owns 4,759,385 shares of the financial services provider’s stock worth $594,791,000 after acquiring an additional 171,125 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RY has been the subject of a number of analyst reports. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, BMO Capital Markets cut their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $116.87 on Tuesday. The company has a market cap of $165.30 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.80 and a beta of 0.87. 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 $95.84 and a 52 week high of $128.05. The business has a fifty day simple moving average of $120.07 and a 200-day simple moving average of $121.66.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 45.73%.

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.