Galvin Gaustad & Stein LLC Sells 98 Shares of Royal Bank of Canada (NYSE:RY)

Galvin Gaustad & Stein LLC decreased its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 4.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,200 shares of the financial services provider’s stock after selling 98 shares during the quarter. Galvin Gaustad & Stein LLC’s holdings in Royal Bank of Canada were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

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

Royal Bank of Canada Stock Up 0.9 %

Shares of NYSE RY opened at $122.10 on Friday. 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 $93.97 and a 12-month high of $128.05. The firm’s 50-day moving average price is $122.45 and its 200-day moving average price is $119.66. The stock has a market capitalization of $172.69 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 1.81 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.45%. Royal Bank of Canada’s payout ratio is currently 50.85%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RY. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note 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 downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets dropped their price target 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $156.50.

About Royal Bank of Canada

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.