Royal Bank of Canada (NYSE:RY) Shares Sold by First Affirmative Financial Network

First Affirmative Financial Network lowered its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 25.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,049 shares of the financial services provider’s stock after selling 703 shares during the quarter. First Affirmative Financial Network’s holdings in Royal Bank of Canada were worth $247,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Royal Bank of Canada during the third quarter worth approximately $25,000. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada during the 3rd quarter worth $25,000. Larson Financial Group LLC purchased a new stake in Royal Bank of Canada in the third quarter valued at $26,000. Grove Bank & Trust acquired a new position in Royal Bank of Canada in the third quarter valued at $28,000. Finally, Whittier Trust Co. of Nevada Inc. grew 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 worth $28,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. 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 dropped 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 note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Price Performance

Shares of RY opened at $123.36 on Friday. The firm has a market capitalization of $174.47 billion, a PE ratio of 14.93, a P/E/G ratio of 1.82 and a beta of 0.87. The stock’s 50 day moving average is $122.47 and its two-hundred day moving average is $120.08. Royal Bank of Canada has a twelve month low of $93.97 and a twelve month high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

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 $1.0522 dividend. This is a boost 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 yield of 3.41%. Royal Bank of Canada’s dividend payout ratio is presently 49.76%.

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.