TD Waterhouse Canada Inc. Reduces Position in Royal Bank of Canada (NYSE:RY)

TD Waterhouse Canada Inc. lessened its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,453,838 shares of the financial services provider's stock after selling 80,627 shares during the period. Royal Bank of Canada accounts for about 5.3% of TD Waterhouse Canada Inc.'s investment portfolio, making the stock its biggest holding. TD Waterhouse Canada Inc. owned 0.39% of Royal Bank of Canada worth $656,504,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new position in Royal Bank of Canada during the 4th quarter valued at $2,425,519,000. Geode Capital Management LLC boosted 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 valued at $1,027,061,000 after buying an additional 1,991,364 shares in the last quarter. APG Asset Management N.V. grew its holdings in Royal Bank of Canada by 1,600.9% during the fourth quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider's stock worth $166,084,000 after acquiring an additional 1,343,174 shares during the period. Vanguard Group Inc. raised its position in Royal Bank of Canada by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock worth $7,136,056,000 after acquiring an additional 1,104,975 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Royal Bank of Canada by 9.0% in 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 acquiring an additional 921,276 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. 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. CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. Finally, StockNews.com upgraded 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 assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $156.50.

Royal Bank of Canada Stock Up 0.1 %

NYSE RY traded up $0.12 during trading on Friday, reaching $117.79. The company's stock had a trading volume of 787,287 shares, compared to its average volume of 1,097,943. The stock has a market capitalization of $166.28 billion, a PE ratio of 14.26, a PEG ratio of 1.80 and a beta of 0.82. The business has a 50-day moving average price of $114.67 and a 200-day moving average price of $119.72. 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 1-year low of $95.84 and a 1-year high of $128.05.

Royal Bank of Canada Cuts Dividend

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

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.