Claret Asset Management Corp Decreases Stock Holdings in Royal Bank of Canada (NYSE:RY)

Claret Asset Management Corp lessened its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 127,061 shares of the financial services provider’s stock after selling 91 shares during the quarter. Royal Bank of Canada accounts for 2.4% of Claret Asset Management Corp’s investment portfolio, making the stock its 12th biggest holding. Claret Asset Management Corp’s holdings in Royal Bank of Canada were worth $15,312,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. WealthTrak Capital Management LLC purchased a new stake in Royal Bank of Canada in the fourth quarter valued at about $28,000. Roxbury Financial LLC purchased a new position in shares of Royal Bank of Canada in the 4th quarter valued at approximately $29,000. Kieckhefer Group LLC purchased a new position in shares of Royal Bank of Canada in the 4th quarter valued at approximately $36,000. Crews Bank & Trust purchased a new stake in Royal Bank of Canada during the 4th quarter worth approximately $36,000. Finally, Jackson Grant Investment Advisers Inc. acquired a new position in Royal Bank of Canada during the 4th quarter valued at approximately $36,000. 45.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. CIBC raised shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Friday, April 4th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $156.50.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $116.14 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $114.82 and a 200 day moving average price of $119.86. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. The stock has a market cap of $163.95 billion, a P/E ratio of 14.06, a PEG ratio of 1.80 and a beta of 0.82.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.53%. Royal Bank of Canada’s payout ratio is 46.18%.

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.