Royal Bank of Canada (NYSE:RY) is Nexus Investment Management ULC's Largest Position

Nexus Investment Management ULC cut its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 448,759 shares of the financial services provider's stock after selling 22,511 shares during the quarter. Royal Bank of Canada makes up about 5.4% of Nexus Investment Management ULC's portfolio, making the stock its largest position. Nexus Investment Management ULC's holdings in Royal Bank of Canada were worth $53,986,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada in the third quarter valued at $25,000. Dunhill Financial LLC bought a new position in shares of Royal Bank of Canada in the third quarter valued at $25,000. Larson Financial Group LLC bought a new position in shares of Royal Bank of Canada in the third quarter valued at $26,000. Grove Bank & Trust bought a new position in shares of Royal Bank of Canada in the third quarter valued at $28,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider's stock valued at $28,000 after buying an additional 118 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Stock Up 0.3 %

Shares of RY stock traded up $0.38 on Friday, hitting $120.46. The stock had a trading volume of 1,588,793 shares, compared to its average volume of 675,270. The business has a 50 day moving average of $122.59 and a 200 day moving average of $119.40. The stock has a market cap of $170.29 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month 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. Stockholders of record on Monday, January 27th will be issued a $1.0522 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.49%. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.03. Royal Bank of Canada's dividend payout ratio is currently 50.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RY shares. BMO Capital Markets dropped their price objective 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. Barclays raised shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research note on Thursday, November 21st. TD Securities lowered shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Finally, StockNews.com downgraded shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a report on Wednesday, January 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Royal Bank of Canada has a consensus rating of "Moderate Buy" and an average price target 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.