Moors & Cabot Inc. Lowers Stake in Royal Bank of Canada (NYSE:RY)

Moors & Cabot Inc. reduced its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,346 shares of the financial services provider’s stock after selling 1,147 shares during the period. Moors & Cabot Inc.’s holdings in Royal Bank of Canada were worth $1,006,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dunhill Financial LLC purchased a new position in Royal Bank of Canada during the 3rd quarter valued at about $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada during the 3rd quarter valued at about $26,000. Roxbury Financial LLC purchased a new position in Royal Bank of Canada during the 4th quarter valued at about $29,000. Jackson Grant Investment Advisers Inc. purchased a new position in Royal Bank of Canada during the 4th quarter valued at about $36,000. Finally, Kieckhefer Group LLC purchased a new position in Royal Bank of Canada during the 4th quarter valued at about $36,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. BMO Capital Markets reduced their price objective 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. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, 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. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $108.88 on Friday. The company has a 50 day moving average price of $118.79 and a 200-day moving average price of $121.51. Royal Bank of Canada has a 52 week low of $95.84 and a 52 week high of $128.05. The firm has a market capitalization of $153.99 billion, a PE ratio of 13.18, a P/E/G ratio of 1.80 and a beta of 0.88. 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 Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.77%. Royal Bank of Canada’s dividend payout ratio is presently 45.96%.

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.