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

Balentine LLC reduced its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,185 shares of the financial services provider’s stock after selling 245 shares during the period. Balentine LLC’s holdings in Royal Bank of Canada were worth $625,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. FMR LLC raised its position in Royal Bank of Canada by 75.8% in the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after purchasing an additional 7,702,585 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Royal Bank of Canada by 0.9% in the third 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 purchasing an additional 124,348 shares in the last quarter. Geode Capital Management LLC increased its stake in Royal Bank of Canada by 9.3% during the 3rd 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 during the period. Fiera Capital Corp lifted its holdings in Royal Bank of Canada by 3.7% during the 3rd quarter. Fiera Capital Corp now owns 4,759,385 shares of the financial services provider’s stock worth $594,791,000 after buying an additional 171,125 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Royal Bank of Canada by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,483,591 shares of the financial services provider’s stock valued at $435,253,000 after buying an additional 122,311 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RY has been the topic of a number of recent research reports. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. BMO Capital Markets cut their price target 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. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $117.94 on Tuesday. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05. The firm has a market capitalization of $166.81 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The company’s fifty day moving average price is $121.79 and its 200 day moving average price is $120.59.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a $1.0522 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s payout ratio is presently 49.76%.

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.