Nexus Investment Management ULC Decreases Stock Holdings in Royal Bank of Canada (NYSE:RY)

Nexus Investment Management ULC cut its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 448,759 shares of the financial services provider’s stock after selling 22,511 shares during the period. Royal Bank of Canada accounts for about 5.4% of Nexus Investment Management ULC’s investment portfolio, making the stock its biggest position. Nexus Investment Management ULC’s holdings in Royal Bank of Canada were worth $53,986,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Addison Advisors LLC lifted its stake in shares of Royal Bank of Canada by 9.5% during the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 82 shares during the period. Financial Management Professionals Inc. raised its holdings in Royal Bank of Canada by 26.8% during 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 last quarter. Mount Yale Investment Advisors LLC lifted its position in Royal Bank of Canada by 1.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 92 shares during the period. Drive Wealth Management LLC boosted its stake in shares of Royal Bank of Canada by 3.4% in the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 92 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in shares of Royal Bank of Canada by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after buying an additional 95 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RY has been the topic of several analyst reports. BMO Capital Markets cut their price objective on shares of 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. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Trading Up 0.3 %

RY opened at $120.46 on Friday. The firm’s fifty day moving average is $122.59 and its two-hundred day moving average is $119.31. The firm has a market cap of $170.29 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. Royal Bank of Canada has a twelve month low of $93.97 and a twelve month high of $128.05. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be paid a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a yield of 3.49%. The ex-dividend date is Monday, January 27th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.85%.

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.