Royal Bank of Canada (NYSE:RY) Stock Holdings Lessened by HighTower Advisors LLC

HighTower Advisors LLC lowered its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,216 shares of the financial services provider’s stock after selling 2,420 shares during the period. HighTower Advisors LLC’s holdings in Royal Bank of Canada were worth $12,318,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Royal Bank of Canada by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after buying an additional 64,450 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Royal Bank of Canada by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after buying an additional 4,980 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at $60,034,000. Wealth High Governance Capital Ltda acquired a new stake in Royal Bank of Canada during the 4th quarter valued at $10,243,000. Finally, Algert Global LLC acquired a new stake in Royal Bank of Canada during the 3rd quarter valued at $706,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 2.5 %

NYSE RY opened at $111.52 on Monday. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $157.43 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The firm’s fifty day simple moving average is $118.61 and its 200-day simple moving average is $121.54.

Royal Bank of Canada Cuts Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on RY. BMO Capital Markets cut their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. 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. Finally, CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.50.

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.