Royal Bank of Canada (NYSE:RY) Stock Holdings Cut by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc lowered its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,956 shares of the financial services provider’s stock after selling 1,621 shares during the period. Royal Bank of Canada makes up approximately 3.4% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 5th biggest position. K.J. Harrison & Partners Inc’s holdings in Royal Bank of Canada were worth $21,382,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Royal Bank of Canada during the 3rd quarter valued at about $25,000. Dunhill Financial LLC bought a new position in Royal Bank of Canada in the 3rd quarter worth about $25,000. Larson Financial Group LLC bought a new stake in Royal Bank of Canada during the 3rd quarter valued at $26,000. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada in the fourth quarter valued at about $29,000. Finally, Kieckhefer Group LLC bought a new position in shares of Royal Bank of Canada during the fourth quarter valued at approximately $36,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Up 0.2 %

Royal Bank of Canada stock opened at $119.52 on Thursday. 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 has a market capitalization of $169.04 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87. The business has a 50 day simple moving average of $120.28 and a 200-day simple moving average of $121.43. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, January 27th were issued a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a yield of 3.52%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.76%.

Analysts Set New Price Targets

RY has been the topic of several recent analyst reports. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. 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 lowered their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.