Heathbridge Capital Management Ltd. Decreases Holdings in Royal Bank of Canada (NYSE:RY)

Heathbridge Capital Management Ltd. trimmed its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,300 shares of the financial services provider’s stock after selling 200 shares during the quarter. Royal Bank of Canada accounts for 4.4% of Heathbridge Capital Management Ltd.’s holdings, making the stock its 9th largest holding. Heathbridge Capital Management Ltd.’s holdings in Royal Bank of Canada were worth $10,997,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. increased its stake in Royal Bank of Canada by 10.2% in the fourth quarter. Principal Securities Inc. now owns 9,474 shares of the financial services provider’s stock valued at $1,142,000 after acquiring an additional 876 shares during the last quarter. Roxbury Financial LLC bought a new position in Royal Bank of Canada in the fourth quarter valued at approximately $29,000. Rhumbline Advisers boosted its position in Royal Bank of Canada by 3.0% in the fourth quarter. Rhumbline Advisers now owns 10,805 shares of the financial services provider’s stock valued at $1,302,000 after buying an additional 310 shares in the last quarter. WASHINGTON TRUST Co boosted its position in Royal Bank of Canada by 34.5% in the fourth quarter. WASHINGTON TRUST Co now owns 780 shares of the financial services provider’s stock valued at $94,000 after buying an additional 200 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its position in Royal Bank of Canada by 3.1% in the fourth quarter. Pathway Financial Advisers LLC now owns 7,966 shares of the financial services provider’s stock valued at $960,000 after buying an additional 240 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. 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. Finally, BMO Capital Markets cut their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $119.04 on Friday. The firm has a market cap of $168.37 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87. The firm’s fifty day moving average is $121.06 and its 200-day moving average is $120.74. 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 has a 52 week low of $95.84 and a 52 week high of $128.05.

Royal Bank of Canada Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend 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 currently 49.76%.

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.