Royal Bank of Canada (NYSE:RY) Shares Sold by First Affirmative Financial Network

First Affirmative Financial Network cut its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 25.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,049 shares of the financial services provider’s stock after selling 703 shares during the period. First Affirmative Financial Network’s holdings in Royal Bank of Canada were worth $247,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new position in shares of Royal Bank of Canada in the third quarter worth $25,000. Larson Financial Group LLC purchased a new stake in shares of Royal Bank of Canada in the third quarter valued at $26,000. Grove Bank & Trust acquired a new stake in shares of Royal Bank of Canada during the third quarter valued at $28,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RY. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. BMO Capital Markets decreased their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Performance

Shares of NYSE:RY opened at $123.36 on Friday. The business’s 50-day simple moving average is $122.47 and its 200 day simple moving average is $120.08. The company has a market cap of $174.47 billion, a P/E ratio of 14.93, a PEG ratio of 1.82 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05.

Royal Bank of Canada Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.41%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.76%.

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.