Pinnacle Wealth Planning Services Inc. Has $274,000 Stake in Royal Bank of Canada (NYSE:RY)

Pinnacle Wealth Planning Services Inc. decreased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 34.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,270 shares of the financial services provider’s stock after selling 1,168 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Royal Bank of Canada were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of RY. Charles Schwab Investment Management Inc. grew its position in Royal Bank of Canada by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after purchasing an additional 64,450 shares during the period. PNC Financial Services Group Inc. grew its position in Royal Bank of Canada by 6.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after purchasing an additional 4,980 shares during the period. CIBC Asset Management Inc grew its position in Royal Bank of Canada by 0.9% in the 3rd 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 purchasing an additional 124,348 shares during the period. Algert Global LLC acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at $706,000. Finally, Bridgewater Associates LP grew its position in Royal Bank of Canada by 150.7% in the 3rd quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after purchasing an additional 44,494 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the subject of several research reports. BMO Capital Markets reduced their price target on shares of 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. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Price Performance

RY opened at $115.07 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. The company has a market capitalization of $162.74 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.80 and a beta of 0.88. The firm’s fifty day moving average price is $119.55 and its two-hundred day moving average price is $121.59. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is 45.96%.

About Royal Bank of Canada

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.