Royal Bank of Canada (NYSE:RY) Stock Position Lowered by International Assets Investment Management LLC

International Assets Investment Management LLC lowered its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 35.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 790,441 shares of the financial services provider’s stock after selling 437,949 shares during the quarter. Royal Bank of Canada comprises 4.3% of International Assets Investment Management LLC’s portfolio, making the stock its 5th largest position. International Assets Investment Management LLC’s holdings in Royal Bank of Canada were worth $95,256,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in shares of Royal Bank of Canada by 6.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after acquiring an additional 4,980 shares during the last quarter. Legal & General Group Plc increased its position in Royal Bank of Canada by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after acquiring an additional 190,341 shares during the period. Creative Planning raised its stake in Royal Bank of Canada by 6.4% during the 3rd quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock valued at $26,369,000 after acquiring an additional 12,693 shares in the last quarter. CIBC Asset Management Inc grew its position in Royal Bank of Canada by 0.9% in the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after buying an additional 124,348 shares in the last quarter. Finally, Algert Global LLC bought a new stake in Royal Bank of Canada during the third quarter worth approximately $706,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Down 0.7 %

Royal Bank of Canada stock traded down $0.89 during mid-day trading on Wednesday, hitting $120.44. 108,702 shares of the company’s stock were exchanged, compared to its average volume of 625,086. Royal Bank of Canada has a 1-year low of $93.97 and a 1-year high of $128.05. The stock has a 50 day moving average of $123.07 and a two-hundred day moving average of $118.73. The stock has a market cap of $170.26 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.86 and a beta of 0.87. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. The ex-dividend date is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a yield of 3.49%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio is presently 52.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Finally, BMO Capital Markets cut their price target on 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada 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.