Burney Co. Trims Stock Position in Royal Bank of Canada (NYSE:RY)

Burney Co. lowered its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 13.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,403 shares of the financial services provider’s stock after selling 675 shares during the period. Burney Co.’s holdings in Royal Bank of Canada were worth $531,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RY. FMR LLC increased its stake in shares of Royal Bank of Canada by 75.8% during the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after purchasing an additional 7,702,585 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Royal Bank of Canada by 165.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock worth $361,532,000 after purchasing an additional 1,804,022 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Royal Bank of Canada in the 3rd quarter worth about $153,217,000. Geode Capital Management LLC raised its holdings in shares of Royal Bank of Canada by 9.3% during the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after purchasing an additional 541,760 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Royal Bank of Canada by 18.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock valued at $291,925,000 after buying an additional 359,719 shares during the period. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. 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. 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 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. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Trading Up 0.3 %

NYSE RY opened at $120.46 on Friday. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05. The company’s 50-day moving average price is $122.66 and its 200-day moving average price is $119.21. The stock has a market cap of $170.38 billion, a PE ratio of 14.58, a PEG ratio of 1.77 and a beta of 0.87. 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 business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Monday, January 27th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is currently 49.76%.

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.