Tacita Capital Inc Has $3.92 Million Stake in Royal Bank of Canada (NYSE:RY)

Tacita Capital Inc reduced its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,545 shares of the financial services provider’s stock after selling 273 shares during the quarter. Royal Bank of Canada makes up 2.8% of Tacita Capital Inc’s portfolio, making the stock its 10th largest holding. Tacita Capital Inc’s holdings in Royal Bank of Canada were worth $3,915,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in Royal Bank of Canada by 6.3% during the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 4,980 shares during the period. CIBC Asset Management Inc lifted its position in shares of Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after buying an additional 124,348 shares during the period. Algert Global LLC bought a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $706,000. Bridgewater Associates LP lifted its holdings in shares of Royal Bank of Canada by 150.7% during the third quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after acquiring an additional 44,494 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Royal Bank of Canada by 9.3% during the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after acquiring an additional 541,760 shares during the period. 45.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

RY has been the subject of several 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 upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, BMO Capital Markets cut their price objective on 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. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Performance

RY stock opened at $116.87 on Tuesday. 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 company has a 50 day moving average price of $120.07 and a 200 day moving average price of $121.66. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The stock has a market capitalization of $165.30 billion, a PE 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders 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 yield of 3.51%. Royal Bank of Canada’s dividend payout ratio is currently 45.73%.

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.