Pathstone Holdings LLC Decreases Stake in Royal Bank of Canada (NYSE:RY)

Pathstone Holdings LLC reduced its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 11.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 192,280 shares of the financial services provider’s stock after selling 24,065 shares during the period. Pathstone Holdings LLC’s holdings in Royal Bank of Canada were worth $23,156,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RY. WealthTrak Capital Management LLC purchased a new stake in shares of Royal Bank of Canada in the 4th quarter worth about $28,000. Roxbury Financial LLC purchased a new stake in Royal Bank of Canada in the 4th quarter valued at approximately $29,000. Optiver Holding B.V. purchased a new stake in Royal Bank of Canada in the 4th quarter valued at approximately $35,000. Crews Bank & Trust purchased a new stake in Royal Bank of Canada in the 4th quarter valued at approximately $36,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new stake in Royal Bank of Canada in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 0.6%

Shares of RY stock opened at $122.57 on Thursday. The firm has a market cap of $173.03 billion, a P/E ratio of 14.84, a PEG ratio of 1.80 and a beta of 0.89. Royal Bank of Canada has a 1-year low of $102.44 and a 1-year high of $128.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50-day simple moving average is $115.45 and its 200-day simple moving average is $119.35.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 46.18%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RY shares. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Friday, April 4th. Finally, StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $156.50.

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.