Royal Bank of Canada (NYSE:RY) Stake Lessened by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 835,392 shares of the financial services provider’s stock after selling 86,271 shares during the period. Russell Investments Group Ltd. owned 0.06% of Royal Bank of Canada worth $100,657,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RY. Dunhill Financial LLC bought a new stake in shares of Royal Bank of Canada in the 3rd quarter worth $25,000. Roxbury Financial LLC bought a new stake in Royal Bank of Canada in the fourth quarter worth about $29,000. WealthTrak Capital Management LLC acquired a new stake in Royal Bank of Canada in the 4th quarter valued at about $28,000. Jackson Grant Investment Advisers Inc. bought a new position in shares of Royal Bank of Canada during the 4th quarter valued at about $36,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Royal Bank of Canada in the 4th quarter worth approximately $36,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on RY. CIBC raised shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Friday. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $111.13 on Friday. The company’s fifty day moving average is $116.60 and its two-hundred day moving average is $120.69. The company has a market cap of $156.88 billion, a P/E ratio of 13.45, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. 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.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.96%.

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.