Amundi Cuts Holdings in Royal Bank of Canada (NYSE:RY)

Amundi reduced its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,362,476 shares of the financial services provider’s stock after selling 225,883 shares during the period. Amundi owned 0.10% of Royal Bank of Canada worth $165,772,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings 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 acquiring an additional 7,702,585 shares in the last quarter. CIBC Asset Management Inc raised its stake in Royal Bank of Canada by 0.9% during the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after purchasing an additional 124,348 shares in the last quarter. Geode Capital Management LLC lifted its position in Royal Bank of Canada by 9.3% during the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after purchasing an additional 541,760 shares during the last quarter. Alberta Investment Management Corp increased its holdings in shares of Royal Bank of Canada by 0.4% in 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Royal Bank of Canada by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after buying an additional 64,450 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RY has been the topic of several analyst reports. BMO Capital Markets reduced their price objective on 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. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Price Performance

RY opened at $115.07 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The business has a fifty day moving average of $119.55 and a 200 day moving average of $121.71. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05. The stock has a market cap of $162.74 billion, a P/E ratio of 13.93, a PEG ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is presently 45.96%.

Royal Bank of Canada Company 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.