NBC Securities Inc. Sells 360,446 Shares of Royal Bank of Canada (NYSE:RY)

NBC Securities Inc. reduced its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 99.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 360 shares of the financial services provider’s stock after selling 360,446 shares during the period. Royal Bank of Canada comprises approximately 4.4% of NBC Securities Inc.’s holdings, making the stock its largest holding. NBC Securities Inc.’s holdings in Royal Bank of Canada were worth $43,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its position in 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 buying an additional 7,702,585 shares during the period. CIBC Asset Management Inc increased its position in Royal Bank of Canada by 0.9% in the third 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. Geode Capital Management LLC increased its position in Royal Bank of Canada by 9.3% in the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock worth $805,616,000 after buying an additional 541,760 shares during the period. Fiera Capital Corp increased its position in Royal Bank of Canada by 3.7% in the third quarter. Fiera Capital Corp now owns 4,759,385 shares of the financial services provider’s stock worth $594,791,000 after buying an additional 171,125 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Royal Bank of Canada by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,483,591 shares of the financial services provider’s stock worth $435,253,000 after buying an additional 122,311 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Royal Bank of Canada Trading Down 0.6 %

NYSE:RY opened at $121.83 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 1-year low of $93.97 and a 1-year high of $128.05. The firm has a market capitalization of $172.31 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.81 and a beta of 0.87. The stock has a fifty day simple moving average of $122.47 and a 200 day simple moving average of $119.90.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed 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 of this dividend is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a yield of 3.45%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.85%.

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.