Royal Bank of Canada (NYSE:RY) Shares Sold by Capital Investment Counsel Inc

Capital Investment Counsel Inc cut its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 8,157 shares of the financial services provider’s stock after selling 100 shares during the period. Capital Investment Counsel Inc’s holdings in Royal Bank of Canada were worth $983,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Sunpointe LLC raised its position in Royal Bank of Canada by 9.3% during the fourth quarter. Sunpointe LLC now owns 1,936 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 164 shares during the period. Ieq Capital LLC raised its position in Royal Bank of Canada by 12.6% during the fourth quarter. Ieq Capital LLC now owns 3,218 shares of the financial services provider’s stock worth $388,000 after acquiring an additional 359 shares during the period. CogentBlue Wealth Advisors LLC acquired a new position in Royal Bank of Canada during the fourth quarter worth $201,000. Alberta Investment Management Corp raised its position in Royal Bank of Canada by 0.4% during the fourth quarter. Alberta Investment Management Corp now owns 3,583,817 shares of the financial services provider’s stock worth $431,892,000 after acquiring an additional 15,300 shares during the period. Finally, Global Retirement Partners LLC raised its position in Royal Bank of Canada by 6.6% during the fourth quarter. Global Retirement Partners LLC now owns 12,251 shares of the financial services provider’s stock worth $1,476,000 after acquiring an additional 755 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $119.51 on Friday. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05. The firm has a market capitalization of $169.03 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.81 and a beta of 0.87. The company has a fifty day simple moving average of $120.61 and a 200-day simple moving average of $121.01. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.52%. Royal Bank of Canada’s dividend payout ratio is presently 49.76%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.