Royal Bank of Canada (NYSE:RY) Shares Sold by Hilltop National Bank

Hilltop National Bank decreased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,255 shares of the financial services provider’s stock after selling 119 shares during the quarter. Hilltop National Bank’s holdings in Royal Bank of Canada were worth $874,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RY. Addison Advisors LLC boosted its position in shares of Royal Bank of Canada by 9.5% during the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after buying an additional 82 shares during the period. Mount Yale Investment Advisors LLC lifted its stake in Royal Bank of Canada by 1.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock worth $619,000 after acquiring an additional 92 shares in the last quarter. Drive Wealth Management LLC boosted its holdings in Royal Bank of Canada by 3.4% during the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 92 shares during the period. Private Advisor Group LLC grew its position in Royal Bank of Canada by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after acquiring an additional 95 shares in the last quarter. Finally, Leisure Capital Management increased its stake in Royal Bank of Canada by 1.1% during the third quarter. Leisure Capital Management now owns 9,366 shares of the financial services provider’s stock worth $1,168,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Down 2.8 %

Royal Bank of Canada stock traded down $3.40 during midday trading on Friday, reaching $118.27. The company’s stock had a trading volume of 231,983 shares, compared to its average volume of 656,101. The company has a market cap of $167.19 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.86 and a beta of 0.87. Royal Bank of Canada has a fifty-two week low of $93.97 and a fifty-two week high of $128.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The business has a 50-day simple moving average of $123.04 and a 200-day simple moving average of $118.77.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.56%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 52.91%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RY shares. BMO Capital Markets dropped their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. TD Securities lowered 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 note on Thursday, November 21st. Finally, StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. One research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

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.