Louisbourg Investments Inc. Sells 4,186 Shares of Royal Bank of Canada (NYSE:RY)

Louisbourg Investments Inc. reduced its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,897 shares of the financial services provider’s stock after selling 4,186 shares during the quarter. Louisbourg Investments Inc.’s holdings in Royal Bank of Canada were worth $3,844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RY. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at about $25,000. Dunhill Financial LLC acquired a new stake in shares of Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC bought a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Royal Bank of Canada by 110.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 118 shares during the period. Finally, Grove Bank & Trust acquired a new position in shares of Royal Bank of Canada during the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $118.28 on Wednesday. The stock has a market cap of $167.29 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a fifty-two week low of $93.97 and a fifty-two week high of $128.05. The firm’s 50-day simple moving average is $121.52 and its 200 day simple moving average is $120.70.

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 issued a $1.0522 dividend. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Monday, January 27th. 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 currently 49.76%.

Wall Street Analyst Weigh In

A number of research firms have commented on RY. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. 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 note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

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.