Royal Bank of Canada (NYSE:RY) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. reduced its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,237,938 shares of the financial services provider’s stock after selling 41,504 shares during the period. Royal Bank of Canada comprises about 3.3% of TD Asset Management Inc.’s holdings, making the stock its 4th largest position. TD Asset Management Inc. owned approximately 2.21% of Royal Bank of Canada worth $3,764,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RY. Financial Management Professionals Inc. increased its position in Royal Bank of Canada by 26.8% during the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock worth $51,000 after buying an additional 90 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Royal Bank of Canada by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 94 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in shares of Royal Bank of Canada by 45.7% during the 4th quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 96 shares during the last quarter. DAVENPORT & Co LLC raised its stake in shares of Royal Bank of Canada by 0.8% in the 4th quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider’s stock valued at $1,502,000 after acquiring an additional 101 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in Royal Bank of Canada by 5.3% in the 4th quarter. CENTRAL TRUST Co now owns 2,270 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 115 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Up 2.0 %

Shares of RY stock opened at $115.91 on Tuesday. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05. 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 firm has a market cap of $163.63 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The stock has a 50 day moving average of $117.80 and a 200-day moving average of $121.24.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders 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 yield of 3.54%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. BMO Capital Markets lowered their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

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.