Crossmark Global Holdings Inc. Sells 2,100 Shares of Royal Bank of Canada (NYSE:RY)

Crossmark Global Holdings Inc. decreased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 133,218 shares of the financial services provider’s stock after selling 2,100 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Royal Bank of Canada were worth $16,054,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RY. FMR LLC lifted its holdings in Royal Bank of Canada by 75.8% during the 3rd 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 during the last quarter. CIBC Asset Management Inc grew its stake in Royal Bank of Canada by 0.9% in 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 buying an additional 124,348 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Royal Bank of Canada by 2.2% during the second 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 acquiring an additional 256,023 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Royal Bank of Canada by 1.8% during the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after acquiring 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 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. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 0.3 %

Shares of Royal Bank of Canada stock opened at $120.46 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. The company has a market capitalization of $170.38 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.80 and a beta of 0.87. The firm’s 50-day moving average price is $122.59 and its two-hundred day moving average price is $119.47.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s payout ratio is currently 50.85%.

Analysts Set New Price Targets

RY has been the subject of several recent research reports. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets decreased 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 research note on Thursday, December 5th. 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. Finally, StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

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.