Kestra Private Wealth Services LLC cut its position in shares of Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,325 shares of the financial services provider’s stock after selling 196 shares during the period. Kestra Private Wealth Services LLC’s holdings in Royal Bank of Canada were worth $219,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Baldwin Brothers LLC MA bought a new stake in shares of Royal Bank of Canada during the fourth quarter valued at approximately $28,000. Financial Management Professionals Inc. boosted its stake in Royal Bank of Canada by 64.9% in the 3rd quarter. Financial Management Professionals Inc. now owns 343 shares of the financial services provider’s stock valued at $31,000 after buying an additional 135 shares in the last quarter. Private Trust Co. NA acquired a new stake in Royal Bank of Canada in the 2nd quarter valued at $49,000. Hexagon Capital Partners LLC boosted its stake in Royal Bank of Canada by 123.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 553 shares of the financial services provider’s stock valued at $50,000 after buying an additional 306 shares in the last quarter. Finally, Romano Brothers AND Company acquired a new stake in Royal Bank of Canada in the 4th quarter valued at $59,000. 41.19% of the stock is currently owned by institutional investors.
Royal Bank of Canada Price Performance
Royal Bank of Canada stock opened at $100.00 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. Royal Bank of Canada has a 52 week low of $83.63 and a 52 week high of $112.67. The firm has a market cap of $139.06 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.76 and a beta of 0.82. The business’s fifty day moving average is $98.33 and its two-hundred day moving average is $96.95.
Royal Bank of Canada Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Tuesday, April 25th will be paid a dividend of $0.992 per share. This represents a $3.97 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Monday, April 24th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.98. Royal Bank of Canada’s dividend payout ratio is 48.32%.
Analyst Upgrades and Downgrades
Several analysts recently commented on RY shares. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Desjardins boosted their price target on Royal Bank of Canada from C$145.00 to C$147.00 in a research note on Tuesday, February 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada has an average rating of “Moderate Buy” and an average target price of $138.33.
About Royal Bank of Canada
Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support. The Personal and Commercial Banking segment deals with a broad suite of financial products and services in Canada.
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