Royal Bank of Canada (NYSE:RY) Shares Purchased by Sollinda Capital Management LLC

Sollinda Capital Management LLC increased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 16.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,264 shares of the financial services provider’s stock after acquiring an additional 590 shares during the period. Sollinda Capital Management LLC’s holdings in Royal Bank of Canada were worth $514,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Royal Bank of Canada during the third quarter worth about $25,000. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada during the third quarter worth about $25,000. Larson Financial Group LLC acquired a new stake in Royal Bank of Canada during the third quarter worth about $26,000. Roxbury Financial LLC acquired a new stake in Royal Bank of Canada during the fourth quarter worth about $29,000. Finally, Kieckhefer Group LLC acquired a new stake in Royal Bank of Canada during the fourth quarter worth about $36,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. BMO Capital Markets lowered 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. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Performance

NYSE RY opened at $113.05 on Tuesday. The company has a market cap of $159.89 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The stock’s 50 day simple moving average is $119.40 and its 200-day simple moving average is $121.71. 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 current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.63%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

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.