Altrius Capital Management Inc Reduces Stake in Royal Bank of Canada (NYSE:RY)
Altrius Capital Management Inc trimmed its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 12.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,334 shares of the financial services provider's stock after selling 8,977 shares during the quarter. Royal Bank of Canada makes up approximately 2.1% of Altrius Capital Management Inc's investment portfolio, making the stock its 7th biggest holding. Altrius Capital Management Inc's holdings in Royal Bank of Canada were worth $7,753,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. FMR LLC grew its holdings in Royal Bank of Canada by 75.8% in the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider's stock worth $2,229,834,000 after purchasing an additional 7,702,585 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Royal Bank of Canada by 165.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider's stock worth $361,532,000 after purchasing an additional 1,804,022 shares in the last quarter. Geode Capital Management LLC grew its stake in Royal Bank of Canada by 9.3% during 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. Caisse DE Depot ET Placement DU Quebec increased its position in Royal Bank of Canada by 18.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider's stock valued at $291,925,000 after buying an additional 359,719 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Royal Bank of Canada in the third quarter valued at about $42,072,000. Hedge funds and other institutional investors own 45.31% of the company's stock.
A number of brokerages have recently weighed in on RY. StockNews.com lowered Royal Bank of Canada from a "hold" rating to a "sell" rating in a research note on Wednesday, January 1st. 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. 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 research note on Thursday, December 5th. Finally, TD Securities downgraded Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $156.50.
Shares of RY stock opened at $115.26 on Friday. The stock has a 50 day simple moving average of $120.19 and a 200-day simple moving average of $121.38. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The company has a market cap of $163.02 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.80 and a beta of 0.87. 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 also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, January 27th were issued a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a yield of 3.65%. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.03. The ex-dividend date was Monday, January 27th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 49.76%.
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.
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