Royal Bank of Canada (NYSE:RY) Holdings Lowered by Callan Capital LLC

Callan Capital LLC trimmed its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 19.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,117 shares of the financial services provider’s stock after selling 744 shares during the quarter. Callan Capital LLC’s holdings in Royal Bank of Canada were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth about $25,000. Dunhill Financial LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth about $25,000. Larson Financial Group LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth about $26,000. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $29,000. Finally, Jackson Grant Investment Advisers Inc. bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $36,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at $118.92 on Friday. The firm’s 50 day simple moving average is $120.50 and its 200-day simple moving average is $121.20. The company has a market cap of $168.20 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87. 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 has a fifty-two week low of $95.84 and a fifty-two week high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.76%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RY. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. BMO Capital Markets lowered their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. 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 equities 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 issued a strong buy rating to the company. According to MarketBeat, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus target price of $156.50.

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.