Truist Financial Corp Sells 754 Shares of Royal Bank of Canada (NYSE:RY)

Truist Financial Corp reduced its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 116,700 shares of the financial services provider’s stock after selling 754 shares during the quarter. Truist Financial Corp’s holdings in Royal Bank of Canada were worth $14,064,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RY. Capital Performance Advisors LLP acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $25,000. Dunhill Financial LLC acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of 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 valued at $28,000 after buying an additional 118 shares during the last quarter. Finally, Roxbury Financial LLC acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at approximately $29,000. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Stock Down 0.9 %

RY opened at $119.51 on Friday. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $169.03 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.81 and a beta of 0.87. The stock has a fifty day moving average of $120.61 and a 200-day moving average of $121.01.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. The ex-dividend date is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.52%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.76%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report 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. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets cut their price target 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada 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.