Balentine LLC Lowers Stock Holdings in Royal Bank of Canada (NYSE:RY)

Balentine LLC cut its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,185 shares of the financial services provider’s stock after selling 245 shares during the period. Balentine LLC’s holdings in Royal Bank of Canada were worth $625,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in shares of Royal Bank of Canada in the 2nd quarter valued at approximately $453,000. Muirfield Wealth Advisors LLC boosted its position in shares of Royal Bank of Canada by 0.8% during the 3rd quarter. Muirfield Wealth Advisors LLC now owns 16,563 shares of the financial services provider’s stock worth $2,066,000 after purchasing an additional 126 shares in the last quarter. Grove Bank & Trust acquired a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $28,000. Sivia Capital Partners LLC grew its holdings in Royal Bank of Canada by 8.4% during the 3rd quarter. Sivia Capital Partners LLC now owns 3,190 shares of the financial services provider’s stock valued at $398,000 after buying an additional 247 shares during the last quarter. Finally, Creative Planning increased its position in Royal Bank of Canada by 6.4% during the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock worth $26,369,000 after buying an additional 12,693 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at $117.94 on Tuesday. The company has a market cap of $166.81 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50-day moving average is $121.79 and its 200-day moving average is $120.59.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a $1.0522 dividend. This is a positive change 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 yield of 3.57%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.76%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. BMO Capital Markets reduced 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 report on Thursday, December 5th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average price target 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.