Dynamic Advisor Solutions LLC Sells 3,457 Shares of Royal Bank of Canada (NYSE:RY)

Dynamic Advisor Solutions LLC cut its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 54.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,909 shares of the financial services provider’s stock after selling 3,457 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Royal Bank of Canada were worth $351,000 as of its most recent SEC filing.

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

Royal Bank of Canada Trading Up 0.0 %

Shares of RY stock opened at $122.61 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a fifty-two week low of $93.97 and a fifty-two week high of $128.05. The company has a market cap of $173.42 billion, a PE ratio of 14.84, a P/E/G ratio of 1.81 and a beta of 0.87. The stock’s fifty day moving average price is $122.47 and its two-hundred day moving average price is $119.90.

Royal Bank of Canada Increases Dividend

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

Wall Street Analysts Forecast Growth

RY has been the topic of several research reports. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets reduced 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.50.

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.