Triangle Securities Wealth Management Sells 165 Shares of Royal Bank of Canada (NYSE:RY)

Triangle Securities Wealth Management trimmed its stake in Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,784 shares of the financial services provider’s stock after selling 165 shares during the period. Triangle Securities Wealth Management’s holdings in Royal Bank of Canada were worth $450,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. RFG Advisory LLC grew its holdings in shares of Royal Bank of Canada by 0.6% during the third quarter. RFG Advisory LLC now owns 16,971 shares of the financial services provider’s stock worth $1,626,000 after purchasing an additional 103 shares during the last quarter. Vident Investment Advisory LLC grew its holdings in shares of Royal Bank of Canada by 1.1% during the first quarter. Vident Investment Advisory LLC now owns 9,935 shares of the financial services provider’s stock worth $1,095,000 after purchasing an additional 105 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of Royal Bank of Canada by 1.9% during the third quarter. Merit Financial Group LLC now owns 5,996 shares of the financial services provider’s stock worth $540,000 after purchasing an additional 111 shares during the last quarter. First Republic Investment Management Inc. grew its holdings in shares of Royal Bank of Canada by 0.6% during the third quarter. First Republic Investment Management Inc. now owns 20,567 shares of the financial services provider’s stock worth $1,852,000 after purchasing an additional 123 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its stake in shares of Royal Bank of Canada by 64.9% during the third quarter. Financial Management Professionals Inc. now owns 343 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 135 shares during the period. Institutional investors own 41.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Desjardins upped their price target on Royal Bank of Canada from C$145.00 to C$147.00 in a research note on Tuesday, February 7th. Bank of America raised Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a research note on Monday, December 12th. National Bank Financial cut their price target on Royal Bank of Canada from C$148.00 to C$147.00 in a research note on Thursday, December 1st. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $139.50.

Royal Bank of Canada Trading Down 2.7 %

NYSE:RY opened at $92.65 on Friday. Royal Bank of Canada has a 1-year low of $83.63 and a 1-year high of $114.55. The business’s 50-day moving average price is $100.55 and its two-hundred day moving average price is $96.53. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $128.40 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.66 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Tuesday, April 25th will be paid a $0.992 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Monday, April 24th. This represents a $3.97 annualized dividend and a yield of 4.28%. Royal Bank of Canada’s dividend payout ratio is presently 48.32%.

About Royal Bank of Canada

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Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support. The Personal and Commercial Banking segment deals with a broad suite of financial products and services in Canada.