Royal Bank of Canada (NYSE:RY) Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. decreased its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 20.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,459,760 shares of the financial services provider's stock after selling 1,870,547 shares during the quarter. Royal Bank of Canada comprises about 4.9% of Beutel Goodman & Co Ltd.'s investment portfolio, making the stock its biggest position. Beutel Goodman & Co Ltd. owned about 0.53% of Royal Bank of Canada worth $898,987,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its stake in shares of Royal Bank of Canada by 6.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 18,436 shares of the financial services provider's stock valued at $2,222,000 after buying an additional 1,160 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in Royal Bank of Canada by 9.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,458 shares of the financial services provider's stock valued at $2,345,000 after acquiring an additional 1,729 shares during the last quarter. Norges Bank purchased a new stake in Royal Bank of Canada during the fourth quarter valued at about $2,425,519,000. Blair William & Co. IL increased its stake in Royal Bank of Canada by 0.6% during the fourth quarter. Blair William & Co. IL now owns 22,150 shares of the financial services provider's stock worth $2,669,000 after acquiring an additional 136 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its stake in Royal Bank of Canada by 26.7% during the fourth quarter. UniSuper Management Pty Ltd now owns 466,200 shares of the financial services provider's stock worth $56,182,000 after acquiring an additional 98,300 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Stock Up 0.7 %

Royal Bank of Canada stock traded up $0.77 during midday trading on Wednesday, hitting $114.42. 232,312 shares of the company were exchanged, compared to its average volume of 1,060,024. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The company's fifty day moving average price is $117.10 and its 200-day moving average price is $120.88. The company has a market cap of $161.52 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.58%. Royal Bank of Canada's payout ratio is currently 45.96%.

Analysts Set New Price Targets

RY has been the subject of a number of research analyst reports. StockNews.com raised shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. BMO Capital Markets decreased their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating for the company in a research note on Thursday, December 5th. Finally, CIBC reissued a "neutral" rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $156.50.

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.