Royal Bank of Canada (NYSE:RY) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lowered its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 35.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 790,441 shares of the financial services provider’s stock after selling 437,949 shares during the period. Royal Bank of Canada makes up approximately 4.3% of International Assets Investment Management LLC’s portfolio, making the stock its 5th largest position. International Assets Investment Management LLC owned about 0.06% of Royal Bank of Canada worth $95,256,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Royal Bank of Canada in the third quarter valued at $25,000. Dunhill Financial LLC purchased a new position in Royal Bank of Canada in the third quarter valued at $25,000. Larson Financial Group LLC acquired a new stake in Royal Bank of Canada in the third quarter valued at $26,000. Grove Bank & Trust purchased a new stake in Royal Bank of Canada during the 3rd quarter worth about $28,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Royal Bank of Canada by 110.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the topic of a number of research analyst reports. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. BMO Capital Markets reduced 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 report on Thursday, December 5th. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Finally, TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded down $0.89 during trading hours on Wednesday, hitting $120.44. The stock had a trading volume of 108,702 shares, compared to its average volume of 625,086. The stock has a market capitalization of $170.26 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.86 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. Royal Bank of Canada has a 1-year low of $93.97 and a 1-year high of $128.05. The stock’s fifty day moving average is $123.07 and its two-hundred day moving average is $118.73.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be paid a dividend of $1.0522 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 52.91%.

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.