Galvin Gaustad & Stein LLC Sells 98 Shares of Royal Bank of Canada (NYSE:RY)

Galvin Gaustad & Stein LLC reduced its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,200 shares of the financial services provider’s stock after selling 98 shares during the period. Galvin Gaustad & Stein LLC’s holdings in Royal Bank of Canada were worth $265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in shares of Royal Bank of Canada in the third quarter worth $25,000. Dunhill Financial LLC bought a new position in Royal Bank of Canada in the 3rd quarter worth about $25,000. Larson Financial Group LLC purchased a new stake in Royal Bank of Canada during the 3rd quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. increased its stake in Royal Bank of Canada by 110.3% during the 3rd 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 in the last quarter. Finally, Grove Bank & Trust bought a new stake in Royal Bank of Canada during the 3rd quarter valued at about $28,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

Shares of RY opened at $122.10 on Friday. The firm has a fifty day simple moving average of $122.45 and a two-hundred day simple moving average of $119.66. The firm has a market cap of $172.69 billion, a PE ratio of 14.78, a P/E/G ratio of 1.81 and a beta of 0.87. 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 has a 1-year low of $93.97 and a 1-year high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.45%. Royal Bank of Canada’s payout ratio is presently 50.85%.

Analyst Ratings Changes

A number of research firms have recently commented on RY. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. 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 Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Finally, BMO Capital Markets dropped their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.