Royal Bank of Canada (NYSE:RY) is Triasima Portfolio Management inc.’s Largest Position

Triasima Portfolio Management inc. lowered its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 305,386 shares of the financial services provider’s stock after selling 7,528 shares during the quarter. Royal Bank of Canada accounts for about 7.1% of Triasima Portfolio Management inc.’s portfolio, making the stock its biggest holding. Triasima Portfolio Management inc.’s holdings in Royal Bank of Canada were worth $36,803,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in Royal Bank of Canada during the third quarter valued at $25,000. Dunhill Financial LLC acquired a new position in shares of Royal Bank of Canada during the 3rd quarter worth about $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada in the 3rd quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Royal Bank of Canada by 110.3% in 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 last quarter. Finally, Grove Bank & Trust purchased a new stake in Royal Bank of Canada during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on RY. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. BMO Capital Markets decreased their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, 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. One 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Up 0.2 %

NYSE RY opened at $119.34 on Friday. The business’s fifty day simple moving average is $122.04 and its 200-day simple moving average is $120.40. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a market cap of $168.78 billion, a PE ratio of 14.45, a P/E/G ratio of 1.82 and a beta of 0.87. 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 company also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a $1.0522 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.53%. Royal Bank of Canada’s dividend payout ratio is 49.76%.

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.