Royal Bank of Canada (NYSE:RY) is Lincluden Management Ltd.’s Largest Position

Lincluden Management Ltd. trimmed its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 591,555 shares of the financial services provider’s stock after selling 14,614 shares during the quarter. Royal Bank of Canada accounts for about 8.6% of Lincluden Management Ltd.’s portfolio, making the stock its largest position. Lincluden Management Ltd.’s holdings in Royal Bank of Canada were worth $71,324,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in shares of Royal Bank of Canada in the third quarter worth $25,000. Dunhill Financial LLC purchased a new stake in shares of Royal Bank of Canada during the third quarter valued at $25,000. Larson Financial Group LLC acquired a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $26,000. Roxbury Financial LLC purchased a new position in Royal Bank of Canada in the 4th quarter worth $29,000. Finally, Kieckhefer Group LLC acquired a new stake in Royal Bank of Canada during the 4th quarter worth about $36,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RY. BMO Capital Markets cut their price objective on 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. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Down 0.3 %

Shares of RY stock opened at $118.57 on Tuesday. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The stock has a market cap of $167.70 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.80 and a beta of 0.87. The stock has a 50 day moving average of $120.38 and a 200 day moving average of $121.37. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, January 27th were issued a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a dividend yield of 3.55%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, January 27th. Royal Bank of Canada’s payout ratio is 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.