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

Westover Capital Advisors LLC lessened its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,404 shares of the financial services provider’s stock after selling 137 shares during the period. Westover Capital Advisors LLC’s holdings in Royal Bank of Canada were worth $772,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RY. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada in the third quarter worth $25,000. Larson Financial Group LLC bought a new stake in Royal Bank of Canada in the third quarter valued at $26,000. Roxbury Financial LLC acquired a new position in shares of Royal Bank of Canada during the fourth quarter valued at $29,000. Finally, Jackson Grant Investment Advisers Inc. bought a new position in shares of Royal Bank of Canada during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on RY. BMO Capital Markets decreased their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Down 1.1 %

RY opened at $116.87 on Tuesday. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. 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 business has a 50 day moving average price of $120.07 and a 200 day moving average price of $121.66. The firm has a market cap of $165.30 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.51%. Royal Bank of Canada’s payout ratio is 45.73%.

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.