Wellington Management Group LLP Reduces Stock Holdings in Royal Bank of Canada (NYSE:RY)

Wellington Management Group LLP decreased its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 10.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,251,910 shares of the financial services provider's stock after selling 863,102 shares during the quarter. Wellington Management Group LLP owned about 0.51% of Royal Bank of Canada worth $873,940,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dunhill Financial LLC acquired a new position in Royal Bank of Canada in the third quarter valued at $25,000. Roxbury Financial LLC purchased a new stake in Royal Bank of Canada in the 4th quarter valued at about $29,000. WealthTrak Capital Management LLC acquired a new position in shares of Royal Bank of Canada during the 4th quarter valued at about $28,000. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Royal Bank of Canada during the 4th quarter worth about $36,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Royal Bank of Canada during the 4th quarter worth about $36,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Trading Up 0.4 %

RY stock traded up $0.48 during midday trading on Thursday, reaching $115.20. 1,831,288 shares of the company's stock traded hands, compared to its average volume of 1,062,701. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The business has a 50-day moving average price of $116.97 and a two-hundred day moving average price of $120.83. The company has a market capitalization of $162.63 billion, a P/E ratio of 13.95, a PEG ratio of 1.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

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Royal Bank of Canada Cuts Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.56%. Royal Bank of Canada's dividend payout ratio (DPR) is 45.96%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. BMO Capital Markets dropped their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating for the company in a research report on Thursday, December 5th. CIBC reissued a "neutral" rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Finally, StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Three equities research 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.