Royal Bank of Canada (NYSE:RY) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC cut its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,993 shares of the financial services provider’s stock after selling 981 shares during the period. Metis Global Partners LLC’s holdings in Royal Bank of Canada were worth $7,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Royal Bank of Canada during the third quarter valued at $25,000. Dunhill Financial LLC acquired a new position in Royal Bank of Canada during the third quarter valued at $25,000. Larson Financial Group LLC acquired a new position in Royal Bank of Canada during the third quarter valued at $26,000. Roxbury Financial LLC acquired a new position in Royal Bank of Canada during the fourth quarter valued at $29,000. Finally, Jackson Grant Investment Advisers Inc. acquired a new position in Royal Bank of Canada during the fourth quarter valued at $36,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of research reports. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets decreased 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 research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at $118.17 on Friday. The firm has a 50 day simple moving average of $120.14 and a 200-day simple moving average of $121.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The stock has a market cap of $167.13 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.47%. Royal Bank of Canada’s dividend payout ratio 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.