Royal Bank of Canada (NYSE:RY) Shares Sold by Smith Salley Wealth Management

Smith Salley Wealth Management trimmed its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.3% during the fourth quarter, Holdings Channel reports. The firm owned 3,550 shares of the financial services provider’s stock after selling 200 shares during the quarter. Smith Salley Wealth Management’s holdings in Royal Bank of Canada were worth $428,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of RY. PNC Financial Services Group Inc. increased its stake in Royal Bank of Canada by 6.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after buying an additional 4,980 shares during the period. Legal & General Group Plc increased its stake in Royal Bank of Canada by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after buying an additional 190,341 shares during the period. Creative Planning increased its stake in Royal Bank of Canada by 6.4% during the 3rd quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock valued at $26,369,000 after buying an additional 12,693 shares during the period. CIBC Asset Management Inc increased its stake in Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after buying an additional 124,348 shares during the period. Finally, Algert Global LLC acquired a new position in Royal Bank of Canada during the 3rd quarter valued at about $706,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on RY. BMO Capital Markets lowered 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. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock 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 opened at $120.46 on Monday. The company has a 50-day moving average of $122.59 and a two-hundred day moving average of $119.40. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $170.29 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.77 and a beta of 0.87. Royal Bank of Canada has a one year low of $93.97 and a one year 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. Stockholders of record on Monday, January 27th will be given a $1.0522 dividend. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.49%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio is 50.85%.

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.