Wambolt & Associates LLC Reduces Stock Position in Royal Bank of Canada (NYSE:RY)

Wambolt & Associates LLC trimmed its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,924 shares of the financial services provider’s stock after selling 2,336 shares during the period. Wambolt & Associates LLC’s holdings in Royal Bank of Canada were worth $2,642,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RY. Dunhill Financial LLC bought a new position in Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC bought a new stake in Royal Bank of Canada during the third quarter valued at $26,000. Roxbury Financial LLC acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth $29,000. Jackson Grant Investment Advisers Inc. bought a new position in shares of Royal Bank of Canada in the 4th quarter worth about $36,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

RY stock opened at $115.91 on Tuesday. The firm has a 50-day moving average of $117.80 and a two-hundred day moving average of $121.24. The firm has a market capitalization of $163.63 billion, a PE ratio of 14.03, a P/E/G ratio of 1.80 and a beta of 0.88. 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 has a one year low of $95.84 and a one year high of $128.05.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 45.96%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Finally, BMO Capital Markets cut 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. Three 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

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.