Nicola Wealth Management LTD. Lowers Position in Royal Bank of Canada (NYSE:RY)

Nicola Wealth Management LTD. decreased its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 24.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,535 shares of the financial services provider’s stock after selling 45,100 shares during the quarter. Royal Bank of Canada comprises about 1.8% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its 22nd largest position. Nicola Wealth Management LTD.’s holdings in Royal Bank of Canada were worth $16,695,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in Royal Bank of Canada by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after purchasing an additional 64,450 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Royal Bank of Canada by 40.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,909 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 551 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Royal Bank of Canada during the fourth quarter valued at $78,000. Jones Financial Companies Lllp raised its stake in Royal Bank of Canada by 1,322.0% during the fourth quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider’s stock valued at $483,000 after purchasing an additional 3,728 shares in the last quarter. Finally, US Bancorp DE increased its position in Royal Bank of Canada by 0.8% during the fourth quarter. US Bancorp DE now owns 87,312 shares of the financial services provider’s stock valued at $10,522,000 after acquiring an additional 718 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 1.1 %

NYSE RY opened at $116.87 on Tuesday. The company’s 50-day moving average price is $120.07 and its 200-day moving average price is $121.66. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a market cap of $165.30 billion, a PE ratio of 14.15, a PEG ratio of 1.80 and a beta of 0.87. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s payout ratio is presently 45.73%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RY shares. BMO Capital Markets cut their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. 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. Finally, StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.