First Trust Advisors LP Reduces Stock Position in Royal Bank of Canada (NYSE:RY)

First Trust Advisors LP trimmed its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 408,865 shares of the financial services provider's stock after selling 7,955 shares during the period. First Trust Advisors LP's holdings in Royal Bank of Canada were worth $49,274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in RY. Charles Schwab Investment Management Inc. grew its position in Royal Bank of Canada by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider's stock worth $427,589,000 after purchasing an additional 64,450 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Royal Bank of Canada in the fourth quarter worth $60,034,000. Wealth High Governance Capital Ltda bought a new stake in shares of Royal Bank of Canada in the fourth quarter worth $10,243,000. Jones Financial Companies Lllp increased its position in Royal Bank of Canada by 1,322.0% during the fourth quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider's stock valued at $483,000 after acquiring an additional 3,728 shares during the last quarter. Finally, APG Asset Management N.V. lifted its holdings in Royal Bank of Canada by 1,600.9% in the fourth quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider's stock valued at $166,084,000 after acquiring an additional 1,343,174 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

NYSE RY opened at $117.78 on Thursday. 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 has a 12 month low of $95.84 and a 12 month high of $128.05. The stock has a market cap of $166.26 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.80 and a beta of 0.82. The company's 50 day moving average is $114.70 and its two-hundred day moving average is $119.75.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is 46.18%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. 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. CIBC upgraded shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research report on Friday, April 4th. Finally, 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. Two 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. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $156.50.

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.

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.