Royal Bank of Canada (NYSE:RY) Position Reduced by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,429 shares of the financial services provider’s stock after selling 116 shares during the period. Corient Private Wealth LLC’s holdings in Royal Bank of Canada were worth $4,390,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RY. Dunhill Financial LLC bought a new stake in Royal Bank of Canada during the third quarter worth approximately $25,000. Larson Financial Group LLC bought a new position in shares of Royal Bank of Canada in the third quarter valued at $26,000. Roxbury Financial LLC bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at $29,000. Kieckhefer Group LLC bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at $36,000. Finally, Crews Bank & Trust bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at $36,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.1 %

NYSE RY opened at $113.71 on Friday. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month 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 stock has a market cap of $160.52 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.80 and a beta of 0.88. The firm’s 50 day moving average price is $117.86 and its two-hundred day moving average price is $121.28.

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 given a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.61%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.96%.

Analysts Set New Price Targets

RY has been the topic of several research reports. BMO Capital Markets dropped their price target 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 raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 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 company. According to MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average price target of $156.50.

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.