Dixon Hughes Goodman Wealth Advisors LLC Sells 1,714 Shares of Royal Bank of Canada (NYSE:RY)

Dixon Hughes Goodman Wealth Advisors LLC reduced its position in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 41.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,405 shares of the financial services provider’s stock after selling 1,714 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC’s holdings in Royal Bank of Canada were worth $265,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Royal Bank of Canada during the fourth quarter worth about $37,000. Stonehage Fleming Financial Services Holdings Ltd boosted its holdings in shares of Royal Bank of Canada by 54.0% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 385 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 135 shares during the period. Allegheny Financial Group LTD purchased a new stake in Royal Bank of Canada in the fourth quarter worth about $48,000. FSB Premier Wealth Management Inc. purchased a new stake in Royal Bank of Canada in the fourth quarter worth about $58,000. Finally, TAP Consulting LLC purchased a new stake in Royal Bank of Canada in the fourth quarter worth about $74,000. Institutional investors own 41.50% of the company’s stock.

Shares of Royal Bank of Canada stock opened at $95.59 on Friday. The company’s fifty day simple moving average is $102.42 and its 200-day simple moving average is $107.14. The stock has a market capitalization of $134.16 billion, a PE ratio of 10.46, a P/E/G ratio of 2.10 and a beta of 0.90. Royal Bank of Canada has a 1-year low of $94.94 and a 1-year high of $119.41. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.88.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Tuesday, July 26th will be paid a dividend of $0.995 per share. This represents a $3.98 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Monday, July 25th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.94. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 42.01%.

RY has been the subject of several research analyst reports. CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Monday, April 11th. TD Securities decreased their target price on shares of Royal Bank of Canada from C$150.00 to C$145.00 in a research note on Friday, May 27th. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Saturday, June 11th. Credit Suisse Group decreased their target price on shares of Royal Bank of Canada from C$153.00 to C$152.00 in a research note on Friday, May 27th. Finally, Scotiabank decreased their target price on shares of Royal Bank of Canada from C$150.00 to C$147.00 in a research note on Friday, May 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada has a consensus rating of “Buy” and an average price target of $143.84.

Royal Bank of Canada Profile (Get Rating)

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

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