Royal Bank of Canada (NYSE:RY) Stock Holdings Trimmed by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV reduced its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,229 shares of the financial services provider’s stock after selling 412 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Royal Bank of Canada were worth $1,233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RY. OneDigital Investment Advisors LLC increased its holdings in Royal Bank of Canada by 4.8% in the third quarter. OneDigital Investment Advisors LLC now owns 2,508 shares of the financial services provider’s stock valued at $313,000 after buying an additional 115 shares during the last quarter. Coastline Trust Co acquired a new position in Royal Bank of Canada in the third quarter valued at approximately $41,000. Natixis Advisors LLC boosted its stake in Royal Bank of Canada by 3.9% in the third quarter. Natixis Advisors LLC now owns 122,223 shares of the financial services provider’s stock valued at $15,245,000 after acquiring an additional 4,615 shares during the period. Prudent Man Advisors LLC acquired a new position in Royal Bank of Canada in the third quarter valued at approximately $220,000. Finally, Drive Wealth Management LLC boosted its stake in 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 valued at $349,000 after acquiring an additional 92 shares during the period. 45.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on RY. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Finally, BMO Capital Markets reduced their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Performance

Shares of NYSE RY opened at $112.66 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $118.44 and a 200-day simple moving average of $121.49. The company has a market cap of $159.04 billion, a PE ratio of 13.64, a P/E/G ratio of 1.80 and a beta of 0.88. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.64%. Royal Bank of Canada’s dividend payout ratio is presently 45.96%.

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.