Gradient Investments LLC Trims Stake in Royal Bank of Canada (NYSE:RY)

Gradient Investments LLC decreased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 22.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,612 shares of the financial services provider’s stock after selling 1,022 shares during the period. Gradient Investments LLC’s holdings in Royal Bank of Canada were worth $435,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new position in shares of Royal Bank of Canada during the second quarter valued at approximately $453,000. APG Asset Management N.V. lifted its stake in shares of Royal Bank of Canada by 232.4% during the 2nd quarter. APG Asset Management N.V. now owns 164,347 shares of the financial services provider’s stock worth $16,322,000 after purchasing an additional 114,900 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Royal Bank of Canada during the second quarter worth $3,787,000. Arkos Global Advisors acquired a new stake in shares of Royal Bank of Canada during the second quarter worth $201,000. Finally, Kathmere Capital Management LLC grew its position in shares of Royal Bank of Canada by 18.2% in the second quarter. Kathmere Capital Management LLC now owns 3,524 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 543 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Up 0.4 %

RY opened at $122.62 on Friday. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05. The firm has a 50 day moving average price of $122.47 and a 200 day moving average price of $119.77. 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 company has a market cap of $173.43 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.81 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be given a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.43%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio is presently 50.85%.

Analyst Ratings Changes

RY has been the topic of a number of research analyst reports. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. BMO Capital Markets lowered their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company 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.