Capital Investment Counsel Inc Reduces Stock Holdings in Royal Bank of Canada (NYSE:RY)

Capital Investment Counsel Inc lowered its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,157 shares of the financial services provider’s stock after selling 100 shares during the quarter. Capital Investment Counsel Inc’s holdings in Royal Bank of Canada were worth $983,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RY. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Royal Bank of Canada by 2.8% during the third quarter. Sequoia Financial Advisors LLC now owns 14,301 shares of the financial services provider’s stock worth $1,784,000 after buying an additional 385 shares during the period. Eastern Bank purchased a new position in Royal Bank of Canada during the third quarter worth about $59,000. Waldron Private Wealth LLC purchased a new position in Royal Bank of Canada during the third quarter worth about $217,000. Finally, Private Advisor Group LLC boosted its stake in Royal Bank of Canada by 1.6% during the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have 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 note on Friday, November 15th. BMO Capital Markets lowered their target price 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. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note 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 note on Thursday, November 21st. One 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Down 0.9 %

Shares of RY opened at $119.51 on Friday. The stock has a market capitalization of $169.03 billion, a PE ratio of 14.47, a P/E/G ratio of 1.81 and a beta of 0.87. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The company’s 50-day simple moving average is $120.61 and its 200-day simple moving average is $121.01.

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 given a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio is currently 49.76%.

Royal Bank of Canada Company 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.