Holderness Investments Co. Cuts Position in Royal Bank of Canada (NYSE:RY)

Holderness Investments Co. decreased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,295 shares of the financial services provider’s stock after selling 204 shares during the period. Holderness Investments Co.’s holdings in Royal Bank of Canada were worth $638,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC acquired a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new position in Royal Bank of Canada during the third quarter worth $26,000. Roxbury Financial LLC purchased a new stake in Royal Bank of Canada during the fourth quarter worth $29,000. Kieckhefer Group LLC acquired a new stake in Royal Bank of Canada in the fourth quarter valued at $36,000. Finally, Crews Bank & Trust purchased a new position in shares of Royal Bank of Canada in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

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

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $113.84 on Friday. The stock has a market capitalization of $160.70 billion, a P/E ratio of 13.78, a P/E/G ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50-day moving average is $117.95 and its two-hundred day moving average is $121.33.

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 paid a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.60%. Royal Bank of Canada’s payout ratio is currently 45.96%.

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.