Royal Bank of Canada (NYSE:RY) Shares Sold by Van Lanschot Kempen Investment Management N.V.

Van Lanschot Kempen Investment Management N.V. cut its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 312,948 shares of the financial services provider's stock after selling 25,587 shares during the quarter. Van Lanschot Kempen Investment Management N.V.'s holdings in Royal Bank of Canada were worth $37,713,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RY. Norges Bank purchased a new stake in shares of Royal Bank of Canada in the 4th quarter valued at $2,425,519,000. Geode Capital Management LLC boosted its stake in Royal Bank of Canada by 31.2% in the 4th quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock worth $1,027,061,000 after purchasing an additional 1,991,364 shares in the last quarter. APG Asset Management N.V. lifted its position in Royal Bank of Canada by 1,600.9% in the 4th 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 in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Royal Bank of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock valued at $7,136,056,000 after acquiring an additional 1,104,975 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of 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 during the period. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RY has been the topic of several recent analyst reports. StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Cibc World Mkts upgraded shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, CIBC raised shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. 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 stock. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of "Buy" and a consensus target price of $156.50.

Royal Bank of Canada Stock Performance

Shares of RY stock traded down $0.12 during mid-day trading on Thursday, hitting $117.67. 973,595 shares of the stock were exchanged, compared to its average volume of 1,099,184. The stock has a market capitalization of $166.11 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.80 and a beta of 0.82. The stock's fifty day simple moving average is $114.70 and its two-hundred day simple moving average is $119.75. 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 12-month low of $95.84 and a 12-month high of $128.05.

Royal Bank of Canada Cuts Dividend

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

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.