Boomfish Wealth Group LLC Sells 7,554 Shares of Royal Bank of Canada (NYSE:RY)

Boomfish Wealth Group LLC decreased its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 64.6% during the 4th quarter, Holdings Channel reports. The fund owned 4,144 shares of the financial services provider’s stock after selling 7,554 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Royal Bank of Canada were worth $499,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RY. PNC Financial Services Group Inc. boosted its holdings in shares of Royal Bank of Canada by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after buying an additional 4,980 shares during the period. Creative Planning raised its stake in shares of Royal Bank of Canada by 6.4% in the 3rd quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock valued at $26,369,000 after purchasing an additional 12,693 shares during the period. CIBC Asset Management Inc boosted its position in shares of Royal Bank of Canada by 0.9% during the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after buying an additional 124,348 shares during the period. Algert Global LLC bought a new position in shares of Royal Bank of Canada during the third quarter worth about $706,000. Finally, Bridgewater Associates LP lifted its stake in Royal Bank of Canada by 150.7% in the 3rd quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after acquiring an additional 44,494 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Shares of NYSE RY opened at $123.36 on Friday. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05. The stock has a 50 day moving average of $122.47 and a 200-day moving average of $120.08. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $174.47 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.82 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.41%. Royal Bank of Canada’s payout ratio is presently 49.76%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BMO Capital Markets lowered their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus 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.