Royal Bank of Canada (NYSE:RY) Shares Sold by NBC Securities Inc.

NBC Securities Inc. cut its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 99.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360 shares of the financial services provider’s stock after selling 360,446 shares during the period. Royal Bank of Canada accounts for about 4.4% of NBC Securities Inc.’s investment portfolio, making the stock its largest position. NBC Securities Inc.’s holdings in Royal Bank of Canada were worth $43,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RY. Capital Performance Advisors LLP purchased a new stake in shares of Royal Bank of Canada during the 3rd quarter worth about $25,000. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at approximately $26,000. Grove Bank & Trust acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at approximately $28,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after buying an additional 118 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $121.83 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $172.31 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.81 and a beta of 0.87. The business’s fifty day moving average is $122.47 and its two-hundred day moving average is $119.90. Royal Bank of Canada has a 52 week low of $93.97 and a 52 week high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be paid a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a yield of 3.45%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is currently 50.85%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. BMO Capital Markets lowered their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, one has issued 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, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.