Ninepoint Partners LP Sells 1,865 Shares of Royal Bank of Canada (NYSE:RY)

Ninepoint Partners LP lessened its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,623 shares of the financial services provider’s stock after selling 1,865 shares during the period. Royal Bank of Canada makes up about 0.4% of Ninepoint Partners LP’s investment portfolio, making the stock its 22nd biggest holding. Ninepoint Partners LP’s holdings in Royal Bank of Canada were worth $2,967,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. one8zero8 LLC bought a new stake in shares of Royal Bank of Canada during the fourth quarter worth $4,379,000. Choate Investment Advisors bought a new position in Royal Bank of Canada in the fourth quarter valued at $230,000. Natixis Advisors LLC grew its position in Royal Bank of Canada by 6.1% in the fourth quarter. Natixis Advisors LLC now owns 129,647 shares of the financial services provider’s stock valued at $15,624,000 after purchasing an additional 7,424 shares in the last quarter. Midwest Professional Planners LTD. grew its position in Royal Bank of Canada by 10.0% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,372 shares of the financial services provider’s stock valued at $1,129,000 after purchasing an additional 855 shares in the last quarter. Finally, Intact Investment Management Inc. grew its position in Royal Bank of Canada by 7.8% in the fourth quarter. Intact Investment Management Inc. now owns 334,585 shares of the financial services provider’s stock valued at $40,337,000 after purchasing an additional 24,245 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RY. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. BMO Capital Markets cut their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Performance

NYSE RY opened at $111.52 on Friday. The firm has a 50-day moving average of $118.61 and a 200-day moving average of $121.52. 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 stock has a market cap of $157.43 billion, a PE ratio of 13.50, a P/E/G ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is 45.96%.

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.