DORCHESTER WEALTH MANAGEMENT Co Reduces Stake in Royal Bank of Canada (NYSE:RY)

DORCHESTER WEALTH MANAGEMENT Co cut its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 8.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 123,052 shares of the financial services provider’s stock after selling 10,648 shares during the period. Royal Bank of Canada accounts for about 2.9% of DORCHESTER WEALTH MANAGEMENT Co’s portfolio, making the stock its 5th biggest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Royal Bank of Canada were worth $14,822,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth $25,000. Dunhill Financial LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth $25,000. Larson Financial Group LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth $26,000. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth $29,000. Finally, Jackson Grant Investment Advisers Inc. bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth $36,000. 45.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RY has been the topic of a number of recent analyst reports. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets lowered their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Trading Down 0.6 %

Shares of Royal Bank of Canada stock opened at $118.92 on Friday. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05. The stock’s 50-day simple moving average is $120.50 and its 200 day simple moving average is $121.20. The stock has a market capitalization of $168.20 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.80 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 company also recently disclosed 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. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s payout ratio is currently 49.76%.

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.