Royal Bank of Canada (NYSE:RY) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership cut its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 88.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,853 shares of the financial services provider's stock after selling 1,246,027 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Royal Bank of Canada were worth $19,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of RY. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada in the 3rd quarter worth about $25,000. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth approximately $29,000. WealthTrak Capital Management LLC purchased a new position in Royal Bank of Canada during the 4th quarter valued at $28,000. Jackson Grant Investment Advisers Inc. purchased a new position in Royal Bank of Canada during the 4th quarter valued at $36,000. Finally, Kieckhefer Group LLC bought a new position in Royal Bank of Canada in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Stock Down 0.6 %

Royal Bank of Canada stock traded down $0.63 during mid-day trading on Tuesday, reaching $108.54. 4,113,579 shares of the company were exchanged, compared to its average volume of 1,079,007. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $153.22 billion, a P/E ratio of 13.14, a PEG ratio of 1.80 and a beta of 0.82. The business has a fifty day moving average of $115.77 and a 200 day moving average of $120.41. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05.

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Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders 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 dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's payout ratio is 45.96%.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of recent analyst reports. Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. 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. Finally, CIBC raised shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research report on Friday. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $156.50.

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.