C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Lowers Stock Position in Royal Bank of Canada (NYSE:RY)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors reduced its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,365 shares of the financial services provider’s stock after selling 1,882 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Royal Bank of Canada were worth $3,057,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RY. FMR LLC grew its position in Royal Bank of Canada by 75.8% during 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Royal Bank of Canada by 165.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock worth $361,532,000 after purchasing an additional 1,804,022 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Royal Bank of Canada in the third quarter worth approximately $153,217,000. Geode Capital Management LLC grew its holdings 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 worth $805,616,000 after purchasing an additional 541,760 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Royal Bank of Canada by 18.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock worth $291,925,000 after purchasing an additional 359,719 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RY has been the topic of several recent analyst 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. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. BMO Capital Markets cut 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 report on Thursday, December 5th. Finally, Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. One 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 issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Performance

NYSE:RY opened at $119.04 on Tuesday. The stock has a market cap of $168.37 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87. The firm’s fifty day simple moving average is $121.06 and its 200 day simple moving average is $120.87. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a yield of 3.54%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is 49.76%.

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.