Royal Bank of Canada (NYSE:RY) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,743 shares of the financial services provider’s stock after selling 609 shares during the quarter. Stifel Financial Corp’s holdings in Royal Bank of Canada were worth $3,336,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP boosted its stake in Royal Bank of Canada by 9.6% in the 3rd quarter. Quantinno Capital Management LP now owns 54,316 shares of the financial services provider’s stock worth $6,775,000 after buying an additional 4,753 shares during the last quarter. Polar Asset Management Partners Inc. boosted its position in shares of Royal Bank of Canada by 50.0% in the third quarter. Polar Asset Management Partners Inc. now owns 15,000 shares of the financial services provider’s stock worth $1,873,000 after acquiring an additional 5,000 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Royal Bank of Canada by 4.9% in the third quarter. Janus Henderson Group PLC now owns 148,580 shares of the financial services provider’s stock worth $18,561,000 after acquiring an additional 6,900 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new stake in Royal Bank of Canada in the third quarter valued at approximately $3,536,000. Finally, Erste Asset Management GmbH acquired a new position in Royal Bank of Canada during the third quarter worth approximately $8,771,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, BMO Capital Markets cut their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Down 0.6 %

Shares of Royal Bank of Canada stock opened at $123.71 on Wednesday. Royal Bank of Canada has a twelve month low of $93.97 and a twelve month high of $128.05. The stock has a market cap of $174.88 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. 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 company has a fifty day moving average price of $124.15 and a 200 day moving average price of $117.12.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.40%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is 52.91%.

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.