HighTower Advisors LLC Trims Stake in Royal Bank of Canada (NYSE:RY)

HighTower Advisors LLC lessened its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,216 shares of the financial services provider's stock after selling 2,420 shares during the period. HighTower Advisors LLC's holdings in Royal Bank of Canada were worth $12,318,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RY. FMR LLC increased its position in Royal Bank of Canada by 75.8% in the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider's stock valued at $2,229,834,000 after acquiring an additional 7,702,585 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Royal Bank of Canada by 165.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider's stock worth $361,532,000 after purchasing an additional 1,804,022 shares during the period. Geode Capital Management LLC increased its position in Royal Bank of Canada by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider's stock worth $805,616,000 after purchasing an additional 541,760 shares during the period. Raymond James Financial Inc. acquired a new position in Royal Bank of Canada during the 4th quarter worth approximately $60,034,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Royal Bank of Canada by 18.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider's stock worth $291,925,000 after purchasing an additional 359,719 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

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Analyst Ratings Changes

Several research firms have issued reports on RY. CIBC reiterated a "neutral" rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Barclays upgraded Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research report on Thursday, November 21st. Finally, BMO Capital Markets dropped their target price on Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a research report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of "Moderate Buy" and an average price target of $156.50.

Royal Bank of Canada Price Performance

Shares of RY traded down $0.38 on Thursday, reaching $113.84. The stock had a trading volume of 551,376 shares, compared to its average volume of 1,004,083. The firm has a market capitalization of $160.70 billion, a PE ratio of 13.78, a PEG ratio of 1.80 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average of $118.11 and a 200 day moving average of $121.38. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05.

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. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is currently 45.96%.

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.