Applied Capital LLC FL Sells 120 Shares of Royal Bank of Canada (NYSE:RY)

Applied Capital LLC FL trimmed its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,012 shares of the financial services provider’s stock after selling 120 shares during the quarter. Royal Bank of Canada comprises approximately 1.6% of Applied Capital LLC FL’s holdings, making the stock its 22nd biggest position. Applied Capital LLC FL’s holdings in Royal Bank of Canada were worth $2,050,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RY. PNC Financial Services Group Inc. grew its position in shares of Royal Bank of Canada by 6.3% during the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 4,980 shares in the last quarter. Creative Planning raised its position in shares of Royal Bank of Canada by 6.4% during the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock valued at $26,369,000 after buying an additional 12,693 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Royal Bank of Canada by 0.9% in the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after buying an additional 124,348 shares in the last quarter. Algert Global LLC bought a new position in shares of Royal Bank of Canada during the third quarter worth $706,000. Finally, Bridgewater Associates LP grew its stake in Royal Bank of Canada by 150.7% during the third quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after acquiring an additional 44,494 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 0.4 %

Shares of NYSE RY opened at $122.62 on Friday. Royal Bank of Canada has a 1-year low of $93.97 and a 1-year high of $128.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50 day moving average is $122.47 and its two-hundred day moving average is $119.77. The stock has a market capitalization of $173.43 billion, a P/E ratio of 14.85, a PEG ratio of 1.81 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a yield of 3.43%. The ex-dividend date is Monday, January 27th. 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 is presently 50.85%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. 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. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.