Diversified Trust Co Decreases Stock Holdings in Royal Bank of Canada (NYSE:RY)

Diversified Trust Co reduced its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 38.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,387 shares of the financial services provider’s stock after selling 29,112 shares during the quarter. Diversified Trust Co’s holdings in Royal Bank of Canada were worth $5,711,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised 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 acquiring an additional 7,702,585 shares during the last quarter. CIBC Asset Management Inc raised its position in Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after purchasing an additional 124,348 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Royal Bank of Canada by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock worth $1,289,274,000 after buying an additional 256,023 shares during the period. Legal & General Group Plc lifted its holdings in Royal Bank of Canada by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after buying an additional 190,341 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Royal Bank of Canada by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock worth $805,616,000 after buying an additional 541,760 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on RY. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. 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. Finally, BMO Capital Markets lowered their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Up 0.7 %

Shares of RY stock traded up $0.85 during mid-day trading on Tuesday, reaching $122.41. 159,715 shares of the company’s stock traded hands, compared to its average volume of 566,171. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $123.11 and its 200-day moving average price is $118.60. The company has a market cap of $173.05 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.86 and a beta of 0.87. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a $1.0522 dividend. This represents a $4.21 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio is 52.91%.

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.