Legal & General Group Plc Has $990.48 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Legal & General Group Plc lessened its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 21.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,218,901 shares of the financial services provider's stock after selling 2,234,230 shares during the quarter. Legal & General Group Plc owned approximately 0.58% of Royal Bank of Canada worth $990,475,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RY. Ruggaard & Associates LLC increased its holdings 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 during the last quarter. Financial Management Professionals Inc. increased its stake 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 during the last quarter. Ballentine Partners LLC raised its position in shares of Royal Bank of Canada by 2.2% in the 4th 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 period. Richardson Financial Services Inc. boosted its stake in Royal Bank of Canada by 45.7% during the 4th 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 during the last quarter. Finally, DAVENPORT & Co LLC grew its holdings 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 period. Institutional investors and hedge funds own 45.31% of the company's stock.

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Royal Bank of Canada Stock Up 3.0 %

NYSE RY traded up $3.31 on Friday, reaching $113.26. The company had a trading volume of 1,186,653 shares, compared to its average volume of 1,094,252. The company's fifty day moving average is $115.13 and its 200-day moving average is $120.13. The firm has a market capitalization of $159.89 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. 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 1-year low of $95.84 and a 1-year high of $128.05.

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 given a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is presently 45.96%.

Wall Street Analyst Weigh In

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

About Royal Bank of Canada

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.