Royal Bank of Canada (NYSE:RY) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) from a hold rating to a sell rating in a research report released on Wednesday.

A number of other analysts have also commented on RY. BMO Capital Markets cut their price objective on shares of 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. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Up 0.6 %

RY stock opened at $120.43 on Wednesday. The business has a 50-day moving average of $123.20 and a 200-day moving average of $118.15. Royal Bank of Canada has a fifty-two week low of $93.97 and a fifty-two week high of $128.05. The stock has a market capitalization of $170.25 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.86 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be paid a $1.0522 dividend. 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 positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio is 52.91%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. National Bank of Canada FI raised its position in Royal Bank of Canada by 16.7% during the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock valued at $2,141,681,000 after purchasing an additional 2,901,033 shares in the last quarter. FMR LLC lifted its holdings in shares of Royal Bank of Canada by 75.8% in the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after acquiring an additional 7,702,585 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of 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 purchasing an additional 124,348 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Royal Bank of Canada by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock worth $1,289,274,000 after purchasing an additional 256,023 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of 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 last quarter. Institutional investors own 45.31% of the company’s stock.

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.