Donaldson Capital Management LLC Sells 323 Shares of Royal Bank of Canada (NYSE:RY)

Donaldson Capital Management LLC reduced its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,198 shares of the financial services provider’s stock after selling 323 shares during the period. Donaldson Capital Management LLC’s holdings in Royal Bank of Canada were worth $1,229,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Addison Advisors LLC raised its position in Royal Bank of Canada by 9.5% in the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after buying an additional 82 shares during the last quarter. Financial Management Professionals Inc. lifted its stake in shares of Royal Bank of Canada by 26.8% in the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 90 shares during the period. Drive Wealth Management LLC boosted its holdings in shares of Royal Bank of Canada by 3.4% in the third quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock worth $349,000 after buying an additional 92 shares during the last quarter. Ballentine Partners LLC grew its position in 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, Richardson Financial Services Inc. increased its holdings in Royal Bank of Canada by 45.7% during the fourth quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider’s stock valued at $37,000 after buying an additional 96 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock opened at $110.33 on Wednesday. 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 52 week low of $95.84 and a 52 week high of $128.05. The stock’s 50-day simple moving average is $119.19 and its 200-day simple moving average is $121.67. The company has a market capitalization of $156.05 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.72%. Royal Bank of Canada’s payout ratio is 45.96%.

Analyst Ratings Changes

Several research firms have recently commented on RY. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. 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 report on Thursday, December 5th. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.