Tobam Trims Stake in Royal Bank of Canada (NYSE:RY)

Tobam cut its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 69.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 789 shares of the financial services provider’s stock after selling 1,757 shares during the period. Tobam’s holdings in Royal Bank of Canada were worth $95,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada in the third quarter worth $25,000. Larson Financial Group LLC bought a new position in Royal Bank of Canada in the third quarter worth $26,000. Grove Bank & Trust purchased a new position in Royal Bank of Canada during the third quarter valued at $28,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after buying an additional 118 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Price Performance

Shares of RY opened at $119.26 on Friday. Royal Bank of Canada has a twelve month low of $93.97 and a twelve month high of $128.05. The company has a market capitalization of $168.68 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.82 and a beta of 0.87. The firm has a 50 day moving average of $121.92 and a 200 day moving average of $120.40. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a $1.0522 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.53%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is currently 49.76%.

Analyst Upgrades and Downgrades

Several research firms recently commented on RY. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. BMO Capital Markets dropped their price target on 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 Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report 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 investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.50.

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.