Gulf International Bank UK Ltd Sells 1,232 Shares of Royal Bank of Canada (NYSE:RY)

Gulf International Bank UK Ltd lessened its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 29.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,997 shares of the financial services provider’s stock after selling 1,232 shares during the period. Gulf International Bank UK Ltd’s holdings in Royal Bank of Canada were worth $361,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Addison Advisors LLC increased its stake in shares of Royal Bank of Canada by 9.5% during the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock valued at $118,000 after buying an additional 82 shares during the period. Financial Management Professionals Inc. increased its stake in shares of Royal Bank of Canada by 26.8% during the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock valued at $51,000 after buying an additional 90 shares during the period. Drive Wealth Management LLC increased its stake in shares of Royal Bank of Canada by 3.4% during the third quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after buying an additional 92 shares during the period. Ballentine Partners LLC increased its stake in shares of Royal Bank of Canada by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock valued at $519,000 after buying an additional 94 shares during the period. Finally, Private Advisor Group LLC increased its stake in shares of Royal Bank of Canada by 1.6% during the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after buying an additional 95 shares during the period. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 2.6 %

NYSE RY opened at $118.17 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The firm has a market capitalization of $167.13 billion, a PE ratio of 14.31, a P/E/G ratio of 1.80 and a beta of 0.87. The stock’s 50 day moving average is $120.14 and its 200 day moving average is $121.62.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date 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 presently 45.73%.

Wall Street Analyst Weigh In

RY has been the topic of several research analyst reports. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets reduced their target price on 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. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus 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.