LGT Group Foundation Lowers Stake in Royal Bank of Canada (NYSE:RY)

LGT Group Foundation lessened its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 47.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,163 shares of the financial services provider’s stock after selling 3,705 shares during the period. LGT Group Foundation’s holdings in Royal Bank of Canada were worth $501,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in Royal Bank of Canada during the third quarter valued at about $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada during the third quarter valued at about $25,000. Larson Financial Group LLC purchased a new stake in Royal Bank of Canada during the third quarter valued at about $26,000. Roxbury Financial LLC purchased a new stake in Royal Bank of Canada during the fourth quarter valued at about $29,000. Finally, Kieckhefer Group LLC purchased a new stake in Royal Bank of Canada during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $116.87 on Tuesday. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The business has a 50-day moving average of $120.07 and a 200-day moving average of $121.66. 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 company has a market capitalization of $165.30 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.80 and a beta of 0.87.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 45.73%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RY. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. BMO Capital Markets decreased their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

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.