Pacifica Partners Inc. Cuts Stock Position in Royal Bank of Canada (NYSE:RY)

Pacifica Partners Inc. trimmed its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,993 shares of the financial services provider’s stock after selling 795 shares during the period. Royal Bank of Canada comprises 2.1% of Pacifica Partners Inc.’s investment portfolio, making the stock its 15th largest position. Pacifica Partners Inc.’s holdings in Royal Bank of Canada were worth $4,775,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at about $25,000. Dunhill Financial LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada during the 3rd quarter valued at about $26,000. Grove Bank & Trust bought a new stake in Royal Bank of Canada during the third quarter worth about $28,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Royal Bank of Canada by 110.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RY shares. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets dropped their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Down 0.3 %

RY opened at $118.41 on Wednesday. Royal Bank of Canada has a 52 week low of $93.97 and a 52 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 firm has a 50-day simple moving average of $122.81 and a two-hundred day simple moving average of $119.21. The company has a market capitalization of $167.39 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.55%. 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 49.76%.

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.