Cigna Investments Inc. New Sells 235 Shares of Royal Bank of Canada (NYSE:RY)

Cigna Investments Inc. New decreased its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,190 shares of the financial services provider’s stock after selling 235 shares during the quarter. Royal Bank of Canada accounts for approximately 0.6% of Cigna Investments Inc. New’s investment portfolio, making the stock its 27th biggest holding. Cigna Investments Inc. New’s holdings in Royal Bank of Canada were worth $3,156,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RY. Addison Advisors LLC raised its position in Royal Bank of Canada by 9.5% in the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 82 shares during the period. Financial Management Professionals Inc. boosted its stake in Royal Bank of Canada by 26.8% during the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 90 shares in the last quarter. Drive Wealth Management LLC lifted its stake in shares of Royal Bank of Canada by 3.4% in the third quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock worth $349,000 after buying an additional 92 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of Royal Bank of Canada by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after buying an additional 94 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in shares of Royal Bank of Canada by 1.6% in the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after buying an additional 95 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

RY has been the subject of a number of research reports. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. BMO Capital Markets decreased their target price 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. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Finally, Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Down 1.2 %

Shares of RY stock opened at $117.94 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $166.81 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87. The company has a 50 day moving average price of $121.79 and a 200 day moving average price of $120.59. Royal Bank of Canada has a fifty-two week low of $93.97 and a fifty-two week high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently announced 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. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.57%. Royal Bank of Canada’s dividend payout ratio is presently 49.76%.

About Royal Bank of Canada

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.