Chemistry Wealth Management LLC Sells 330 Shares of Royal Bank of Canada (NYSE:RY)

Chemistry Wealth Management LLC reduced its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,043 shares of the financial services provider’s stock after selling 330 shares during the period. Chemistry Wealth Management LLC’s holdings in Royal Bank of Canada were worth $367,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FMR LLC raised its position in shares of Royal Bank of Canada by 75.8% in the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after purchasing an additional 7,702,585 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Royal Bank of Canada by 0.9% in the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after purchasing an additional 124,348 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Royal Bank of Canada by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock valued at $1,289,274,000 after purchasing an additional 256,023 shares during the last quarter. Legal & General Group Plc raised its position in shares of Royal Bank of Canada by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after purchasing an additional 190,341 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Royal Bank of Canada by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after purchasing an additional 541,760 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. 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 reduced 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. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Finally, TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $120.46 on Friday. The company’s fifty day moving average price is $122.66 and its 200 day moving average price is $119.21. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05. The stock has a market capitalization of $170.29 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be paid a $1.0522 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a yield of 3.49%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.85%.

Royal Bank of Canada Company 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.