Royal Bank of Canada (NYSE:RY) Stake Lowered by HighTower Advisors LLC

HighTower Advisors LLC cut its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,216 shares of the financial services provider’s stock after selling 2,420 shares during the quarter. HighTower Advisors LLC’s holdings in Royal Bank of Canada were worth $12,318,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in RY. Dunhill Financial LLC bought a new position in shares of Royal Bank of Canada during the third quarter valued at approximately $25,000. Larson Financial Group LLC bought a new position in shares of Royal Bank of Canada during the third quarter valued at approximately $26,000. Roxbury Financial LLC bought a new position in shares of Royal Bank of Canada during the fourth quarter valued at approximately $29,000. Kieckhefer Group LLC acquired a new position in shares of Royal Bank of Canada during the fourth quarter worth approximately $36,000. Finally, Crews Bank & Trust acquired a new position in shares of Royal Bank of Canada during the fourth quarter worth approximately $36,000. 45.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on RY. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. BMO Capital Markets reduced their price objective on 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. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Performance

RY opened at $111.52 on Monday. The company has a market capitalization of $157.43 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The business has a 50 day moving average price of $118.61 and a two-hundred day moving average price of $121.54.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.68%. Royal Bank of Canada’s dividend payout ratio (DPR) is 45.96%.

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.