Twin Tree Management LP Sells 2,916 Shares of Royal Bank of Canada (NYSE:RY)

Twin Tree Management LP trimmed its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 7.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,267 shares of the financial services provider's stock after selling 2,916 shares during the period. Twin Tree Management LP's holdings in Royal Bank of Canada were worth $4,130,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RY. Dunhill Financial LLC bought a new position in Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Larson Financial Group LLC bought a new position in Royal Bank of Canada during the third quarter worth $26,000. Roxbury Financial LLC acquired a new position in shares of Royal Bank of Canada during the fourth quarter valued at about $29,000. Kieckhefer Group LLC acquired a new position in Royal Bank of Canada in the 4th quarter valued at approximately $36,000. Finally, Crews Bank & Trust acquired a new position in shares of Royal Bank of Canada in the fourth quarter valued at $36,000. Institutional investors own 45.31% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. BMO Capital Markets reduced their target price on shares of 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. Finally, CIBC reiterated a "neutral" rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $156.50.

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Royal Bank of Canada Trading Down 0.1 %

Royal Bank of Canada stock traded down $0.11 during midday trading on Friday, hitting $113.71. 758,358 shares of the stock were exchanged, compared to its average volume of 1,006,192. Royal Bank of Canada has a 52 week low of $95.84 and a 52 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. The stock has a market capitalization of $160.52 billion, a PE ratio of 13.77, a P/E/G ratio of 1.80 and a beta of 0.88. The company has a fifty day simple moving average of $117.86 and a two-hundred day simple moving average of $121.28.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is 45.96%.

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.