Louisbourg Investments Inc. Sells 4,186 Shares of Royal Bank of Canada (NYSE:RY)

Louisbourg Investments Inc. reduced its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 11.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 31,897 shares of the financial services provider’s stock after selling 4,186 shares during the quarter. Louisbourg Investments Inc.’s holdings in Royal Bank of Canada were worth $3,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of RY. Certuity LLC boosted its stake in Royal Bank of Canada by 17.4% in the fourth quarter. Certuity LLC now owns 2,545 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 377 shares during the last quarter. Community Bank & Trust Waco Texas raised its holdings in shares of Royal Bank of Canada by 12.5% in the 4th quarter. Community Bank & Trust Waco Texas now owns 5,893 shares of the financial services provider’s stock worth $710,000 after purchasing an additional 654 shares during the period. Savant Capital LLC lifted its stake in Royal Bank of Canada by 13.3% in the fourth quarter. Savant Capital LLC now owns 7,550 shares of the financial services provider’s stock valued at $910,000 after purchasing an additional 886 shares during the last quarter. Wagner Wealth Management LLC grew its holdings in Royal Bank of Canada by 9.0% during the fourth quarter. Wagner Wealth Management LLC now owns 6,284 shares of the financial services provider’s stock valued at $757,000 after purchasing an additional 521 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Royal Bank of Canada in the fourth quarter worth $70,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

NYSE:RY opened at $118.28 on Wednesday. The business’s fifty day moving average is $121.52 and its 200 day moving average is $120.70. The firm has a market cap of $167.29 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a 52-week low of $93.97 and a 52-week high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. The ex-dividend date is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a dividend yield of 3.56%. Royal Bank of Canada’s dividend payout ratio is currently 49.76%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. BMO Capital Markets dropped their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.