Royal Bank of Canada (NYSE:RY) Stock Position Trimmed by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC decreased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,715 shares of the financial services provider’s stock after selling 109 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Royal Bank of Canada were worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in Royal Bank of Canada by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 4,980 shares during the period. Legal & General Group Plc lifted its stake in shares of Royal Bank of Canada by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after acquiring an additional 190,341 shares during the period. Creative Planning boosted its holdings in shares of Royal Bank of Canada by 6.4% in the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock valued at $26,369,000 after acquiring an additional 12,693 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Royal Bank of Canada by 0.9% during the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after acquiring an additional 124,348 shares during the period. Finally, Algert Global LLC bought a new stake in Royal Bank of Canada during the third quarter worth approximately $706,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

RY has been the topic of several research analyst reports. BMO Capital Markets dropped their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a 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 report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Price Performance

NYSE RY opened at $120.46 on Friday. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05. The stock’s 50-day moving average price is $122.66 and its two-hundred day moving average price is $119.21. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a market cap of $170.38 billion, a PE ratio of 14.58, a PEG ratio of 1.77 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a yield of 3.49%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s payout ratio is presently 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.