Capital World Investors Sells 716,641 Shares of Royal Bank of Canada (NYSE:RY)

Capital World Investors lessened its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,027,552 shares of the financial services provider's stock after selling 716,641 shares during the quarter. Capital World Investors owned approximately 0.57% of Royal Bank of Canada worth $967,919,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on RY. CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Cibc World Mkts upgraded shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $156.50.

Royal Bank of Canada Trading Up 0.4 %

Shares of Royal Bank of Canada stock opened at $116.14 on Friday. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05. The company's fifty day simple moving average is $114.82 and its 200-day simple moving average is $119.84. The company has a market cap of $163.95 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.80 and a beta of 0.82. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.53%. Royal Bank of Canada's payout ratio is 46.18%.

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.

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