Royal Bank of Canada (NYSE:RY) Shares Sold by Advisory Services Network LLC

Advisory Services Network LLC trimmed its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 22.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,360 shares of the financial services provider’s stock after selling 1,567 shares during the quarter. Advisory Services Network LLC’s holdings in Royal Bank of Canada were worth $646,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Roxbury Financial LLC acquired a new stake in Royal Bank of Canada during the fourth quarter worth approximately $29,000. WealthTrak Capital Management LLC purchased a new position in shares of Royal Bank of Canada in the 4th quarter valued at $28,000. Jackson Grant Investment Advisers Inc. acquired a new stake in Royal Bank of Canada during the 4th quarter worth $36,000. Kieckhefer Group LLC purchased a new stake in Royal Bank of Canada in the fourth quarter valued at $36,000. Finally, Crews Bank & Trust acquired a new position in Royal Bank of Canada in the fourth quarter valued at $36,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Down 0.1 %

RY stock opened at $115.24 on Wednesday. The stock has a market capitalization of $162.67 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05. The company has a fifty day moving average of $114.97 and a 200-day moving average of $120.00. 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 46.18%.

Analyst Ratings Changes

A number of research firms have recently commented on RY. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, CIBC raised shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Royal Bank of Canada has a consensus rating of “Buy” and an average 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.