Whittier Trust Co. Sells 170 Shares of Royal Bank of Canada (NYSE:RY)

Whittier Trust Co. reduced its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,541 shares of the financial services provider’s stock after selling 170 shares during the period. Whittier Trust Co.’s holdings in Royal Bank of Canada were worth $306,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Financial Management Professionals Inc. raised its position in shares of Royal Bank of Canada by 26.8% in the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock worth $51,000 after buying an additional 90 shares in the last quarter. Ballentine Partners LLC raised its position in shares of Royal Bank of Canada by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after buying an additional 94 shares in the last quarter. Richardson Financial Services Inc. raised its position in shares of Royal Bank of Canada by 45.7% in the fourth quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider’s stock worth $37,000 after buying an additional 96 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Royal Bank of Canada by 0.8% in the fourth quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider’s stock worth $1,502,000 after buying an additional 101 shares in the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of Royal Bank of Canada by 5.3% in the fourth quarter. CENTRAL TRUST Co now owns 2,270 shares of the financial services provider’s stock worth $274,000 after buying an additional 115 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RY. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, BMO Capital Markets lowered 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. Three 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Down 0.1 %

RY opened at $113.71 on Monday. The company has a market cap of $160.52 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.80 and a beta of 0.88. The business’s 50-day moving average price is $117.86 and its 200-day moving average price is $121.28. 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 12 month low of $95.84 and a 12 month high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.61%. Royal Bank of Canada’s dividend payout ratio is currently 45.96%.

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.