Old Port Advisors Sells 210 Shares of Royal Bank of Canada (NYSE:RY)

Old Port Advisors lowered its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,862 shares of the financial services provider’s stock after selling 210 shares during the period. Old Port Advisors’ holdings in Royal Bank of Canada were worth $2,153,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RY. FMR LLC boosted its stake in Royal Bank of Canada by 75.8% in the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after buying an additional 7,702,585 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Royal Bank of Canada by 16.7% in the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock valued at $2,141,681,000 after purchasing an additional 2,901,033 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Royal Bank of Canada by 165.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock valued at $361,532,000 after purchasing an additional 1,804,022 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Royal Bank of Canada in the 3rd quarter worth $153,217,000. Finally, Geode Capital Management LLC raised its position in Royal Bank of Canada by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock worth $805,616,000 after purchasing an additional 541,760 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Trading Down 0.4 %

NYSE:RY traded down $0.48 during mid-day trading on Thursday, reaching $120.03. 118,506 shares of the company’s stock traded hands, compared to its average volume of 1,066,202. The firm has a market capitalization of $169.68 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. The company has a 50 day moving average price of $123.28 and a 200-day moving average price of $118.14. 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 Increases Dividend

The firm also recently announced 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 represents a $4.21 dividend on an annualized basis and a dividend yield of 3.51%. 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 52.91%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, BMO Capital Markets decreased their target price 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. One equities research analyst has rated the stock with a sell rating, one has given 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada 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.