Lincluden Management Ltd. Sells 14,614 Shares of Royal Bank of Canada (NYSE:RY)

Lincluden Management Ltd. cut its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 591,555 shares of the financial services provider’s stock after selling 14,614 shares during the quarter. Royal Bank of Canada accounts for 8.6% of Lincluden Management Ltd.’s holdings, making the stock its largest holding. Lincluden Management Ltd.’s holdings in Royal Bank of Canada were worth $71,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Private Advisor Group LLC lifted its stake in Royal Bank of Canada by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after buying an additional 95 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Royal Bank of Canada by 30.8% during the third quarter. Ballentine Partners LLC now owns 4,214 shares of the financial services provider’s stock valued at $526,000 after acquiring an additional 993 shares during the last quarter. Arkadios Wealth Advisors lifted its position in shares of Royal Bank of Canada by 2.2% in the third quarter. Arkadios Wealth Advisors now owns 8,203 shares of the financial services provider’s stock valued at $1,023,000 after acquiring an additional 176 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Royal Bank of Canada by 5.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 30,849 shares of the financial services provider’s stock worth $3,848,000 after acquiring an additional 1,663 shares during the last quarter. Finally, Carret Asset Management LLC acquired a new stake in shares of Royal Bank of Canada in the third quarter worth approximately $216,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Down 0.3 %

Shares of RY opened at $118.57 on Tuesday. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $120.38 and a two-hundred day simple moving average of $121.37. The company has a market capitalization of $167.70 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, January 27th were paid a dividend of $1.0522 per share. The ex-dividend date was Monday, January 27th. This is an increase 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 3.55%. Royal Bank of Canada’s payout ratio is 49.76%.

Analysts Set New Price Targets

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

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.