Montrusco Bolton Investments Inc. Cuts Stock Holdings in Royal Bank of Canada (NYSE:RY)

Montrusco Bolton Investments Inc. cut its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,351,790 shares of the financial services provider's stock after selling 94,591 shares during the quarter. Royal Bank of Canada makes up 1.7% of Montrusco Bolton Investments Inc.'s investment portfolio, making the stock its 22nd biggest holding. Montrusco Bolton Investments Inc. owned about 0.10% of Royal Bank of Canada worth $137,373,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in shares of Royal Bank of Canada during the third quarter worth about $26,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Royal Bank of Canada in the 3rd quarter valued at $34,000. Cullen Frost Bankers Inc. acquired a new position in Royal Bank of Canada in the 3rd quarter valued at $44,000. First Horizon Advisors Inc. increased its stake in Royal Bank of Canada by 64.7% in the 4th quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider's stock valued at $48,000 after buying an additional 185 shares during the period. Finally, Addison Advisors LLC lifted its stake in shares of Royal Bank of Canada by 131.0% in the 4th quarter. Addison Advisors LLC now owns 529 shares of the financial services provider's stock worth $53,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on RY shares. BMO Capital Markets upgraded shares of Royal Bank of Canada from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $140.00 to $150.00 in a research report on Friday, April 5th. Barclays initiated coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They set an "equal weight" rating on the stock. StockNews.com downgraded shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a report on Tuesday, February 6th. Finally, Jefferies Financial Group upgraded shares of Royal Bank of Canada from a "hold" rating to a "buy" rating in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $137.67.

Royal Bank of Canada Price Performance

NYSE RY traded up $0.80 during trading hours on Friday, reaching $106.79. The company's stock had a trading volume of 1,492,648 shares, compared to its average volume of 1,184,248. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The company's 50-day moving average is $100.37 and its two-hundred day moving average is $96.80. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $106.87. The stock has a market cap of $151.08 billion, a PE ratio of 13.45, a PEG ratio of 1.81 and a beta of 0.85.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.06 by $0.05. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. The business had revenue of $9.98 billion during the quarter, compared to analysts' expectations of $10.10 billion. Analysts forecast that Royal Bank of Canada will post 8.52 EPS for the current year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be given a $1.0207 dividend. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.02. This represents a $4.08 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada's dividend payout ratio is currently 51.39%.

Royal Bank of Canada Profile

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.