DORCHESTER WEALTH MANAGEMENT Co lessened its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 8.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 123,052 shares of the financial services provider's stock after selling 10,648 shares during the quarter. Royal Bank of Canada makes up approximately 2.9% of DORCHESTER WEALTH MANAGEMENT Co's investment portfolio, making the stock its 5th largest holding. DORCHESTER WEALTH MANAGEMENT Co's holdings in Royal Bank of Canada were worth $14,822,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in RY. FMR LLC grew its position in shares of Royal Bank of Canada by 75.8% during the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider's stock worth $2,229,834,000 after buying an additional 7,702,585 shares during the period. CIBC Asset Management Inc grew its position in shares of Royal Bank of Canada by 0.9% during the 3rd 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. Geode Capital Management LLC grew its position in shares of Royal Bank of Canada by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider's stock worth $805,616,000 after buying an additional 541,760 shares during the period. Fiera Capital Corp grew its position in shares of Royal Bank of Canada by 3.7% during the 3rd quarter. Fiera Capital Corp now owns 4,759,385 shares of the financial services provider's stock worth $594,791,000 after buying an additional 171,125 shares during the period. Finally, Alberta Investment Management Corp grew its position in shares of Royal Bank of Canada by 0.4% during the 4th quarter. Alberta Investment Management Corp now owns 3,583,817 shares of the financial services provider's stock worth $431,892,000 after buying an additional 15,300 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.
NYSE RY opened at $118.92 on Friday. The company has a fifty day simple moving average of $120.50 and a 200 day simple moving average of $121.20. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. 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 cap of $168.20 billion, a P/E ratio of 14.40, a PEG ratio of 1.80 and a beta of 0.87.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders 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 annualized dividend and a yield of 3.54%. Royal Bank of Canada's dividend payout ratio (DPR) is 49.76%.
RY has been the subject of several recent analyst reports. StockNews.com downgraded shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Wednesday, January 1st. Barclays raised shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research report on Thursday, November 21st. BMO Capital Markets reduced their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating for the company in a research report on Thursday, December 5th. Finally, TD Securities downgraded shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. One investment 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $156.50.
Read Our Latest Stock Analysis on 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.
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