Triangle Securities Wealth Management Lowers Position in Royal Bank of Canada (NYSE:RY)

Triangle Securities Wealth Management cut its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,778 shares of the financial services provider’s stock after selling 150 shares during the period. Triangle Securities Wealth Management’s holdings in Royal Bank of Canada were worth $455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Royal Bank of Canada by 75.8% in the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after acquiring an additional 7,702,585 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Royal Bank of Canada by 0.9% in the third 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 acquiring an additional 124,348 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Royal Bank of Canada by 2.2% in the second 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 acquiring an additional 256,023 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Royal Bank of Canada by 1.8% in the second 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 acquiring an additional 190,341 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Royal Bank of Canada by 9.3% in the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after acquiring an additional 541,760 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Up 0.3 %

Shares of NYSE:RY opened at $120.46 on Monday. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05. The business has a 50 day simple moving average of $122.59 and a two-hundred day simple moving average of $119.40. The firm has a market capitalization of $170.29 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is 50.85%.

Wall Street Analyst Weigh In

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