OLD Point Trust & Financial Services N A Lowers Position in Royal Bank of Canada (NYSE:RY)

OLD Point Trust & Financial Services N A decreased its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 21.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,500 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Royal Bank of Canada were worth $904,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. OneDigital Investment Advisors LLC increased its stake in Royal Bank of Canada by 4.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,508 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 115 shares in the last quarter. Natixis Advisors LLC grew its holdings in Royal Bank of Canada by 3.9% during the 3rd quarter. Natixis Advisors LLC now owns 122,223 shares of the financial services provider’s stock valued at $15,245,000 after buying an additional 4,615 shares during the last quarter. Caprock Group LLC boosted its stake in shares of Royal Bank of Canada by 15.4% during the third quarter. Caprock Group LLC now owns 7,296 shares of the financial services provider’s stock valued at $910,000 after acquiring an additional 971 shares during the last quarter. BIP Wealth LLC purchased a new stake in shares of Royal Bank of Canada during the third quarter worth about $364,000. Finally, PNC Financial Services Group Inc. grew its stake 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 worth $10,483,000 after acquiring an additional 4,980 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Up 1.6 %

Shares of Royal Bank of Canada stock opened at $114.25 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $161.28 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The business’s 50 day simple moving average is $118.11 and its 200-day simple moving average is $121.38.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be given a $1.0251 dividend. This represents a $4.10 annualized dividend and a yield of 3.59%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 45.96%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RY shares. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Finally, 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 for the company in a research report on Thursday, December 5th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average target price 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.