Farther Finance Advisors LLC Sells 782 Shares of Royal Bank of Canada (NYSE:RY)

Farther Finance Advisors LLC decreased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 8.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,125 shares of the financial services provider’s stock after selling 782 shares during the quarter. Farther Finance Advisors LLC’s holdings in Royal Bank of Canada were worth $979,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Financial Management Professionals Inc. lifted its position in Royal Bank of Canada by 26.8% in the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 90 shares during the period. Drive Wealth Management LLC raised its stake in shares of Royal Bank of Canada by 3.4% in the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after buying an additional 92 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of Royal Bank of Canada by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 94 shares during the period. Richardson Financial Services Inc. boosted its position in shares of Royal Bank of Canada by 45.7% during the 4th quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 96 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in Royal Bank of Canada by 0.8% in the fourth quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider’s stock valued at $1,502,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. 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. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. BMO Capital Markets lowered their price target on 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. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Three analysts have rated the stock with 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 company has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Trading Up 2.5 %

RY stock opened at $111.52 on Friday. The business has a fifty day moving average price of $118.61 and a 200 day moving average price of $121.48. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The stock has a market capitalization of $157.73 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.68%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

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.