Royal Bank of Canada (NYSE:RY) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lessened its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,715 shares of the financial services provider’s stock after selling 109 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Royal Bank of Canada were worth $689,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FMR LLC boosted its holdings 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 valued at $2,229,834,000 after purchasing an additional 7,702,585 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in 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 worth $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 shares of Royal Bank of Canada during the 3rd quarter valued at approximately $153,217,000. Geode Capital Management LLC boosted its stake in shares of Royal Bank of Canada by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after buying an additional 541,760 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Royal Bank of Canada by 18.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock worth $291,925,000 after buying an additional 359,719 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on RY shares. 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. BMO Capital Markets decreased their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $120.46 on Friday. The company has a market cap of $170.38 billion, a PE ratio of 14.58, a P/E/G ratio of 1.77 and a beta of 0.87. Royal Bank of Canada has a fifty-two week low of $93.97 and a fifty-two week high of $128.05. The firm has a 50-day simple moving average of $122.66 and a 200 day simple moving average of $119.21. 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 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 dividend of $1.0522 per share. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.49%. This is a boost 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 presently 49.76%.

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.