Callan Capital LLC Has $376,000 Position in Royal Bank of Canada (NYSE:RY)

Callan Capital LLC reduced its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 19.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,117 shares of the financial services provider’s stock after selling 744 shares during the quarter. Callan Capital LLC’s holdings in Royal Bank of Canada were worth $376,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in RY. Summerhill Capital Management lnc. lifted its stake in Royal Bank of Canada by 2.8% in the fourth quarter. Summerhill Capital Management lnc. now owns 57,822 shares of the financial services provider’s stock valued at $6,965,000 after acquiring an additional 1,561 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Royal Bank of Canada by 18.3% in the fourth quarter. Allianz Asset Management GmbH now owns 275,723 shares of the financial services provider’s stock valued at $33,228,000 after acquiring an additional 42,706 shares during the last quarter. Tandem Investment Advisors Inc. lifted its stake in Royal Bank of Canada by 2.2% in the fourth quarter. Tandem Investment Advisors Inc. now owns 7,051 shares of the financial services provider’s stock valued at $850,000 after acquiring an additional 151 shares during the last quarter. Sunpointe LLC lifted its stake in Royal Bank of Canada by 9.3% in the fourth quarter. Sunpointe LLC now owns 1,936 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 164 shares during the last quarter. Finally, Ieq Capital LLC lifted its stake in Royal Bank of Canada by 12.6% in the fourth quarter. Ieq Capital LLC now owns 3,218 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 359 shares during the last quarter. 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 analyst reports. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. BMO Capital Markets reduced their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company 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, TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock opened at $118.92 on Friday. The firm has a fifty day simple moving average of $120.50 and a 200-day simple moving average of $121.20. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. 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 capitalization of $168.20 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.80 and a beta of 0.87.

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 $1.0522 dividend. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.54%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s payout ratio is presently 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.