Royal Bank of Canada (NYSE:RY) Shares Sold by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. lowered its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,180 shares of the financial services provider’s stock after selling 650 shares during the period. Royal Bank of Canada accounts for approximately 3.1% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 7th biggest holding. PCJ Investment Counsel Ltd.’s holdings in Royal Bank of Canada were worth $9,294,000 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 position in shares of Royal Bank of Canada during the 3rd quarter worth $25,000. Dunhill Financial LLC acquired a new position in Royal Bank of Canada in the third quarter valued at $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada during the third quarter worth about $26,000. Roxbury Financial LLC acquired a new stake in Royal Bank of Canada in the 4th quarter worth about $29,000. Finally, Kieckhefer Group LLC purchased a new stake in Royal Bank of Canada in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $115.07 on Friday. 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’s fifty day moving average price is $119.55 and its two-hundred day moving average price is $121.59. The firm has a market capitalization of $162.74 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05.

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 3.56%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 45.96%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RY shares. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, 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 report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.