TD Asset Management Inc. Decreases Position in Royal Bank of Canada (NYSE:RY)

TD Asset Management Inc. reduced its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,237,938 shares of the financial services provider's stock after selling 41,504 shares during the quarter. Royal Bank of Canada comprises about 3.3% of TD Asset Management Inc.'s portfolio, making the stock its 4th biggest position. TD Asset Management Inc. owned 2.21% of Royal Bank of Canada worth $3,764,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dunhill Financial LLC acquired a new stake in shares of Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC acquired a new stake in Royal Bank of Canada during the 3rd quarter worth $26,000. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter valued at $29,000. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Royal Bank of Canada in the 4th quarter valued at $36,000. Finally, Kieckhefer Group LLC bought a new position in shares of Royal Bank of Canada in the 4th quarter worth $36,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank of Canada Stock Down 2.3 %

Shares of NYSE:RY traded down $2.67 during midday trading on Friday, reaching $112.04. 843,252 shares of the company were exchanged, compared to its average volume of 1,063,070. The firm has a market cap of $158.17 billion, a PE ratio of 13.56, a P/E/G ratio of 1.80 and a beta of 0.88. The stock has a fifty day simple moving average of $117.43 and a two-hundred day simple moving average of $121.04. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors 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 3.66%. Royal Bank of Canada's payout ratio is presently 45.96%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. CIBC reissued a "neutral" rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Finally, StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.