Triangle Securities Wealth Management Has $754,000 Holdings in Royal Bank of Canada (RY)

Triangle Securities Wealth Management cut its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 12.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,233 shares of the financial services provider’s stock after selling 1,310 shares during the quarter. Triangle Securities Wealth Management’s holdings in Royal Bank of Canada were worth $754,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Quadrant Capital Group LLC increased its position in shares of Royal Bank of Canada by 4.0% in the second quarter. Quadrant Capital Group LLC now owns 1,709 shares of the financial services provider’s stock valued at $102,000 after buying an additional 65 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new stake in shares of Royal Bank of Canada in the third quarter valued at approximately $153,000. Asset Advisors Corp purchased a new stake in shares of Royal Bank of Canada in the third quarter valued at approximately $178,000. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Royal Bank of Canada in the second quarter valued at approximately $191,000. Finally, Holderness Investments Co. purchased a new stake in shares of Royal Bank of Canada in the third quarter valued at approximately $203,000. 40.63% of the stock is owned by institutional investors.

Shares of Royal Bank of Canada (RY) traded down $0.44 on Wednesday, hitting $83.70. The company had a trading volume of 738,411 shares, compared to its average volume of 813,116. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.90. Royal Bank of Canada has a 52-week low of $66.66 and a 52-week high of $84.70. The stock has a market capitalization of $122,260.00, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.07.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be given a dividend of $0.7157 per share. This represents a $2.86 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Wednesday, January 24th. Royal Bank of Canada’s payout ratio is 47.36%.

A number of analysts have recently commented on RY shares. Macquarie started coverage on Royal Bank of Canada in a research report on Tuesday, October 24th. They issued an “underperform” rating for the company. Zacks Investment Research cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Scotiabank reiterated a “hold” rating and set a $101.00 price target on shares of Royal Bank of Canada in a research report on Wednesday, November 22nd. Canaccord Genuity reiterated a “hold” rating and set a $105.00 price target on shares of Royal Bank of Canada in a research report on Wednesday, November 29th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $102.00 price target on shares of Royal Bank of Canada in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $97.00.

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Royal Bank of Canada Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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