Federated Hermes Inc. Sells 3,872 Shares of Royal Bank of Canada (NYSE:RY)

Federated Hermes Inc. reduced its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 5.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,099 shares of the financial services provider's stock after selling 3,872 shares during the quarter. Federated Hermes Inc.'s holdings in Royal Bank of Canada were worth $7,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ruggaard & Associates LLC grew its position in Royal Bank of Canada by 1.8% in the fourth quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider's stock valued at $565,000 after purchasing an additional 85 shares in the last quarter. Financial Management Professionals Inc. grew its holdings in shares of Royal Bank of Canada by 26.8% in the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 90 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Royal Bank of Canada by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider's stock valued at $519,000 after acquiring an additional 94 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in Royal Bank of Canada by 45.7% during the fourth quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider's stock worth $37,000 after acquiring an additional 96 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its position in Royal Bank of Canada by 0.8% during the fourth quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider's stock valued at $1,502,000 after purchasing an additional 101 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several research analysts have weighed in on the company. CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research report on Friday, April 4th. Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. 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. Two 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock traded up $2.06 during mid-day trading on Monday, hitting $115.33. 1,175,400 shares of the company's stock traded hands, compared to its average volume of 1,095,642. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The stock has a market cap of $162.81 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.80 and a beta of 0.82. The firm has a 50 day simple moving average of $115.13 and a two-hundred day simple moving average of $120.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's payout ratio is 46.18%.

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.