Live Oak Private Wealth LLC Sells 3,887 Shares of Royal Bank of Canada (NYSE:RY)

Live Oak Private Wealth LLC reduced its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,689 shares of the financial services provider’s stock after selling 3,887 shares during the quarter. Live Oak Private Wealth LLC’s holdings in Royal Bank of Canada were worth $6,470,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RY. Capital Performance Advisors LLP purchased a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Dunhill Financial LLC bought a new stake in shares of Royal Bank of Canada during the third quarter valued at approximately $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada during the third quarter valued at $26,000. Grove Bank & Trust bought a new stake in Royal Bank of Canada during the third quarter worth about $28,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings 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 worth $28,000 after purchasing an additional 118 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Stock Up 0.2 %

Royal Bank of Canada stock opened at $119.34 on Friday. The firm has a market cap of $168.78 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.82 and a beta of 0.87. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05. The stock has a fifty day simple moving average of $122.04 and a two-hundred day simple moving average of $120.40.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a $1.0522 dividend. 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 yield of 3.53%. Royal Bank of Canada’s payout ratio is 49.76%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports 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 for the company in a report on Thursday, December 5th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report 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. Finally, StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.