Diversified Trust Co Sells 29,112 Shares of Royal Bank of Canada (NYSE:RY)

Diversified Trust Co reduced its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 38.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,387 shares of the financial services provider’s stock after selling 29,112 shares during the quarter. Diversified Trust Co’s holdings in Royal Bank of Canada were worth $5,711,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in shares of Royal Bank of Canada by 2,995.0% in the fourth quarter. Versant Capital Management Inc now owns 619 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 599 shares during the period. Trust Co of the South increased its stake in Royal Bank of Canada by 0.9% in the 4th quarter. Trust Co of the South now owns 25,043 shares of the financial services provider’s stock worth $3,018,000 after acquiring an additional 225 shares during the last quarter. 1ST Source Bank purchased a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at about $214,000. Logan Capital Management Inc. raised its holdings in shares of Royal Bank of Canada by 4.1% in the 3rd quarter. Logan Capital Management Inc. now owns 33,003 shares of the financial services provider’s stock valued at $4,116,000 after acquiring an additional 1,293 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at about $748,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RY shares. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. BMO Capital Markets lowered their price objective 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. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Up 0.7 %

Shares of RY stock traded up $0.85 on Tuesday, hitting $122.41. 159,715 shares of the company’s stock traded hands, compared to its average volume of 566,171. The stock has a market capitalization of $173.05 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 1.86 and a beta of 0.87. The company’s fifty day simple moving average is $123.11 and its 200 day simple moving average is $118.60. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a $1.0522 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.44%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is currently 52.91%.

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.