Nicola Wealth Management LTD. Lowers Position in Royal Bank of Canada (NYSE:RY)

Nicola Wealth Management LTD. cut its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 24.6% in the fourth quarter, Holdings Channel reports. The fund owned 138,535 shares of the financial services provider’s stock after selling 45,100 shares during the quarter. Royal Bank of Canada accounts for approximately 1.8% of Nicola Wealth Management LTD.’s portfolio, making the stock its 22nd largest position. Nicola Wealth Management LTD.’s holdings in Royal Bank of Canada were worth $16,695,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in RY. FMR LLC lifted its stake 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 acquiring an additional 7,702,585 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Royal Bank of Canada by 165.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock worth $361,532,000 after acquiring an additional 1,804,022 shares during the period. Geode Capital Management LLC lifted its stake 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 acquiring an additional 541,760 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in Royal Bank of Canada by 18.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock worth $291,925,000 after acquiring an additional 359,719 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Royal Bank of Canada in the third quarter worth about $42,072,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on RY. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. BMO Capital Markets decreased their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Down 1.1 %

RY stock opened at $116.87 on Tuesday. The firm has a 50 day moving average of $120.07 and a 200 day moving average of $121.66. The stock has a market capitalization of $165.30 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87. 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 52 week low of $95.84 and a 52 week high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.73%.

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.