Cerro Pacific Wealth Advisors LLC Cuts Stock Holdings in Royal Bank of Canada (NYSE:RY)

Cerro Pacific Wealth Advisors LLC reduced its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,469 shares of the financial services provider’s stock after selling 219 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Royal Bank of Canada were worth $1,056,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of Royal Bank of Canada during the 3rd quarter worth $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada during the 3rd quarter worth about $25,000. Larson Financial Group LLC acquired a new position in shares of Royal Bank of Canada during the 3rd quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. increased its stake in Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares during the last quarter. Finally, Grove Bank & Trust acquired a new stake in Royal Bank of Canada during the third quarter worth approximately $28,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Up 0.9 %

RY opened at $122.10 on Friday. Royal Bank of Canada has a 52 week low of $93.97 and a 52 week high of $128.05. The business has a 50 day moving average price of $122.45 and a two-hundred day moving average price of $119.66. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a market cap of $172.69 billion, a PE ratio of 14.78, a P/E/G ratio of 1.81 and a beta of 0.87.

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 paid a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio is 50.85%.

Wall Street Analyst Weigh In

RY has been the topic of several research analyst reports. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Finally, BMO Capital Markets decreased their price objective on 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

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.