Apollon Wealth Management LLC Has $450,000 Position in Royal Bank of Canada (NYSE:RY)

Apollon Wealth Management LLC lowered its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,734 shares of the financial services provider’s stock after selling 129 shares during the quarter. Apollon Wealth Management LLC’s holdings in Royal Bank of Canada were worth $450,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake 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 acquiring an additional 7,702,585 shares during the last quarter. CIBC Asset Management Inc lifted its stake in 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 acquiring an additional 124,348 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 valued at $805,616,000 after purchasing an additional 541,760 shares during the period. Fiera Capital Corp raised its position 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 valued at $594,791,000 after purchasing an additional 171,125 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position 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 valued at $435,253,000 after purchasing an additional 122,311 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. BMO Capital Markets dropped their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research 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 issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Price Performance

NYSE:RY opened at $119.35 on Friday. Royal Bank of Canada has a 52 week low of $95.19 and a 52 week high of $128.05. The firm has a market cap of $168.80 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 1.78 and a beta of 0.87. The firm’s 50-day simple moving average is $121.38 and its 200 day simple moving average is $120.69. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a dividend of $1.0522 per share. This represents a $4.21 dividend on an annualized basis and a yield of 3.53%. This is a positive change 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 currently 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.