Royal Bank of Canada (NYSE:RY) Shares Sold by FIL Ltd

FIL Ltd lessened its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,298,717 shares of the financial services provider's stock after selling 1,553,551 shares during the period. Royal Bank of Canada makes up approximately 2.5% of FIL Ltd's investment portfolio, making the stock its 2nd largest position. FIL Ltd owned about 1.58% of Royal Bank of Canada worth $2,688,660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RY. Vanguard Group Inc. raised its stake in Royal Bank of Canada by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock worth $7,136,056,000 after purchasing an additional 1,104,975 shares in the last quarter. Norges Bank bought a new stake in Royal Bank of Canada during the fourth quarter worth about $2,425,519,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Royal Bank of Canada by 9.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock worth $1,338,156,000 after purchasing an additional 921,276 shares during the period. Geode Capital Management LLC grew its stake in Royal Bank of Canada by 31.2% during the fourth quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock worth $1,027,061,000 after buying an additional 1,991,364 shares in the last quarter. Finally, GQG Partners LLC increased its holdings in Royal Bank of Canada by 0.9% in the 4th quarter. GQG Partners LLC now owns 5,796,767 shares of the financial services provider's stock valued at $698,579,000 after buying an additional 51,277 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

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Royal Bank of Canada Price Performance

Shares of RY traded up $3.31 during trading hours on Friday, reaching $113.26. The stock had a trading volume of 1,186,653 shares, compared to its average volume of 1,095,324. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05. The stock has a market capitalization of $159.89 billion, a PE ratio of 13.71, a PEG ratio of 1.80 and a beta of 0.82. The company's 50-day moving average is $115.13 and its two-hundred day moving average is $120.10.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.62%. Royal Bank of Canada's dividend payout ratio is presently 45.96%.

Wall Street Analysts Forecast Growth

RY has been the topic of several analyst reports. StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Finally, CIBC upgraded Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research report on Friday, April 4th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average 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.