Canoe Financial LP Sells 12,298 Shares of Royal Bank of Canada (NYSE:RY)

Canoe Financial LP decreased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,202,099 shares of the financial services provider’s stock after selling 12,298 shares during the period. Royal Bank of Canada accounts for about 2.1% of Canoe Financial LP’s holdings, making the stock its 14th largest holding. Canoe Financial LP owned about 0.09% of Royal Bank of Canada worth $144,843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of 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 worth $2,229,834,000 after purchasing an additional 7,702,585 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Royal Bank of Canada by 165.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock valued at $361,532,000 after buying an additional 1,804,022 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Royal Bank of Canada during the third quarter valued at about $153,217,000. Geode Capital Management LLC raised its stake in Royal Bank of Canada by 9.3% in the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock worth $805,616,000 after buying an additional 541,760 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Royal Bank of Canada by 18.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock worth $291,925,000 after buying an additional 359,719 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RY. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Finally, BMO Capital Markets decreased 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 assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Up 0.3 %

Shares of NYSE:RY opened at $120.46 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 stock has a fifty day simple moving average of $122.66 and a two-hundred day simple moving average of $119.21. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. The stock has a market capitalization of $170.29 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.77 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be given a $1.0522 dividend. This represents a $4.21 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Monday, January 27th. This is a positive change 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 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.