Royal Bank of Canada (NYSE:RY) Shares Sold by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV trimmed its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,229 shares of the financial services provider’s stock after selling 412 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Royal Bank of Canada were worth $1,233,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RY. Gold Investment Management Ltd. increased its holdings in shares of Royal Bank of Canada by 1.2% in the fourth quarter. Gold Investment Management Ltd. now owns 44,066 shares of the financial services provider’s stock valued at $5,312,000 after buying an additional 532 shares in the last quarter. Gitterman Wealth Management LLC bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at $230,000. one8zero8 LLC bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at $4,379,000. Choate Investment Advisors bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at $230,000. Finally, Natixis Advisors LLC increased its holdings in shares of Royal Bank of Canada by 6.1% in the fourth quarter. Natixis Advisors LLC now owns 129,647 shares of the financial services provider’s stock valued at $15,624,000 after buying an additional 7,424 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RY has been the topic of several research reports. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. BMO Capital Markets dropped their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Price Performance

RY opened at $112.66 on Tuesday. The stock has a fifty day moving average of $118.44 and a 200-day moving average of $121.49. The firm has a market capitalization of $159.04 billion, a P/E ratio of 13.64, a PEG ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.64%. Royal Bank of Canada’s payout ratio is currently 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.