RFG Advisory LLC Lowers Holdings in Royal Bank of Canada (NYSE:RY)

RFG Advisory LLC lowered its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 15,962 shares of the financial services provider’s stock after selling 327 shares during the period. RFG Advisory LLC’s holdings in Royal Bank of Canada were worth $1,924,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada during the third quarter worth $25,000. Larson Financial Group LLC acquired a new stake in Royal Bank of Canada during the third quarter valued at $26,000. Grove Bank & Trust purchased a new position in Royal Bank of Canada in the third quarter valued at $28,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RY shares. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets decreased their target price 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. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Up 0.4 %

Shares of RY opened at $122.62 on Friday. The firm’s fifty day moving average is $122.47 and its two-hundred day moving average is $119.77. The stock 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. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. 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 issued a $1.0522 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a yield of 3.43%. Royal Bank of Canada’s dividend payout ratio is presently 50.85%.

Royal Bank of Canada Company 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.