Royal Bank of Canada (NYSE:RY) Shares Sold by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC reduced its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 8.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,722 shares of the financial services provider’s stock after selling 935 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Royal Bank of Canada were worth $1,337,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FMR LLC raised 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 worth $2,229,834,000 after acquiring an additional 7,702,585 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Royal Bank of Canada by 16.7% during the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $2,141,681,000 after purchasing an additional 2,901,033 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Royal Bank of Canada by 165.1% during the 3rd 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 acquired a new stake in Royal Bank of Canada during the 3rd quarter valued at $153,217,000. Finally, Geode Capital Management LLC raised 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 acquiring an additional 541,760 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Up 0.4 %

Shares of NYSE:RY traded up $0.47 during midday trading on Thursday, hitting $120.31. 369,381 shares of the stock were exchanged, compared to its average volume of 1,075,772. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a 52-week low of $93.97 and a 52-week high of $128.05. The business’s fifty day simple moving average is $124.10 and its two-hundred day simple moving average is $117.14. The company has a market capitalization of $170.08 billion, a PE ratio of 14.57, a P/E/G ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be paid a $1.0522 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a yield of 3.50%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is currently 52.91%.

Analyst Ratings Changes

A number of analysts recently commented on RY shares. BMO Capital Markets dropped their price objective 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. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One investment 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. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus 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.