Chemistry Wealth Management LLC decreased its holdings in Royal Bank of Canada (NYSE:RY – Free Report) (TSE:RY) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,043 shares of the financial services provider’s stock after selling 330 shares during the period. Chemistry Wealth Management LLC’s holdings in Royal Bank of Canada were worth $367,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in Royal Bank of Canada in the 3rd quarter worth about $25,000. Dunhill Financial LLC purchased a new position in Royal Bank of Canada in the 3rd quarter worth about $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada in the 3rd quarter worth about $26,000. Grove Bank & Trust purchased a new position in Royal Bank of Canada in the 3rd quarter worth about $28,000. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after buying an additional 118 shares during the period. 45.31% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts recently commented on the stock. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. BMO Capital Markets dropped 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 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 issued a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.
Royal Bank of Canada Stock Up 0.3 %
Shares of Royal Bank of Canada stock opened at $120.46 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. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05. The firm’s 50-day moving average is $122.66 and its two-hundred day moving average is $119.21. The stock has a market cap of $170.29 billion, a price-to-earnings 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 declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a $1.0522 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.85%.
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.
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