Quadrant Private Wealth Management LLC Sells 306 Shares of Royal Bank of Canada (NYSE:RY)

Quadrant Private Wealth Management LLC cut its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 11.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,348 shares of the financial services provider’s stock after selling 306 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Royal Bank of Canada were worth $283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of RY. Capital Performance Advisors LLP purchased a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Dunhill Financial LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth $25,000. Larson Financial Group LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth $26,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Royal Bank of Canada by 110.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 118 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth $36,000. 45.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. BMO Capital Markets dropped 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 report on Thursday, December 5th. Finally, StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Price Performance

Shares of RY opened at $119.04 on Friday. The stock has a market cap of $168.37 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87. 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 has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The firm’s 50-day simple moving average is $121.06 and its two-hundred day simple moving average is $120.74.

Royal Bank of Canada Increases Dividend

The company also recently announced 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. This represents a $4.21 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, January 27th. This is an increase 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.