Fmr LLC Cuts Holdings in Royal Bank of Canada (NYSE:RY)

FMR LLC decreased its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,348,581 shares of the financial services provider's stock after selling 1,517,440 shares during the period. FMR LLC owned approximately 1.16% of Royal Bank of Canada worth $1,971,222,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Dunhill Financial LLC bought a new position in shares of Royal Bank of Canada in the 3rd quarter valued at about $25,000. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada in the 4th quarter valued at approximately $29,000. WealthTrak Capital Management LLC bought a new stake in shares of Royal Bank of Canada in the 4th quarter valued at approximately $28,000. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Royal Bank of Canada in the 4th quarter worth approximately $36,000. Finally, Kieckhefer Group LLC bought a new position in shares of Royal Bank of Canada during the 4th quarter valued at approximately $36,000. 45.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. CIBC upgraded 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 note on Thursday, April 3rd. Finally, StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned 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 an average target price of $156.50.

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Royal Bank of Canada Trading Up 3.0 %

RY stock traded up $3.31 during trading on Friday, hitting $113.26. The company had a trading volume of 1,186,653 shares, compared to its average volume of 1,094,252. The firm has a market capitalization of $159.89 billion, a P/E ratio of 13.71, a PEG ratio of 1.80 and a beta of 0.82. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05. The company has a 50 day simple moving average of $115.13 and a 200-day simple moving average of $120.13.

Royal Bank of Canada Cuts Dividend

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

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.