Royal Bank of Canada (NYSE:RY) Shares Sold by Jolley Asset Management LLC

Jolley Asset Management LLC cut its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 43.1% during the fourth quarter, HoldingsChannel reports. The firm owned 3,300 shares of the financial services provider’s stock after selling 2,500 shares during the period. Jolley Asset Management LLC’s holdings in Royal Bank of Canada were worth $261,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RY. Balentine LLC increased its stake in Royal Bank of Canada by 36.2% during the 3rd quarter. Balentine LLC now owns 549 shares of the financial services provider’s stock valued at $45,000 after buying an additional 146 shares during the period. Boston Partners acquired a new position in shares of Royal Bank of Canada in the second quarter worth about $50,000. CWM LLC lifted its position in shares of Royal Bank of Canada by 140.0% in the third quarter. CWM LLC now owns 804 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 469 shares in the last quarter. Cornerstone Advisors Inc. lifted its position in shares of Royal Bank of Canada by 49.9% in the third quarter. Cornerstone Advisors Inc. now owns 1,007 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 335 shares in the last quarter. Finally, HM Payson & Co. purchased a new stake in shares of Royal Bank of Canada in the second quarter worth approximately $90,000. Institutional investors own 41.89% of the company’s stock.

RY has been the topic of a number of recent analyst reports. Citigroup lowered shares of Royal Bank of Canada from a “buy” rating to a “neutral” rating and set a $113.00 price target on the stock. in a research report on Tuesday, December 17th. Desjardins downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Zacks Investment Research upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Credit Suisse Group upgraded shares of Royal Bank of Canada from a “neutral” rating to an “outperform” rating and set a $108.00 target price on the stock in a research note on Friday, December 13th. Finally, CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating and lifted their price target for the company from $109.00 to $120.00 in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $109.17.

NYSE:RY traded down $1.22 on Friday, hitting $80.51. 57,280 shares of the stock were exchanged, compared to its average volume of 857,289. The stock has a market capitalization of $116.60 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 2.24 and a beta of 1.08. Royal Bank of Canada has a 52 week low of $73.19 and a 52 week high of $82.58. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The company’s 50-day moving average price is $79.69 and its 200 day moving average price is $79.42.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, December 4th. The financial services provider reported $1.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.06). The firm had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.97 billion. Royal Bank of Canada had a return on equity of 17.04% and a net margin of 19.07%. As a group, equities research analysts predict that Royal Bank of Canada will post 6.98 earnings per share for the current year.

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 given a dividend of $0.7897 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $3.16 annualized dividend and a dividend yield of 3.92%. Royal Bank of Canada’s payout ratio is currently 47.38%.

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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

Further Reading: Relative Strength Index

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

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