Wellington Management Group LLP Sells 863,102 Shares of 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% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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 approximately 0.51% of Royal Bank of Canada worth $873,940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Royal Bank of Canada in the 4th quarter worth approximately $2,425,519,000. Vanguard Group Inc. raised its position in Royal Bank of Canada by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock worth $7,136,056,000 after acquiring an additional 1,104,975 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Royal Bank of Canada by 9.0% during the 4th 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 last quarter. Mufg Securities Canada LTD. grew its position in shares of Royal Bank of Canada by 72.0% during the 4th quarter. Mufg Securities Canada LTD. now owns 2,160,865 shares of the financial services provider's stock valued at $260,373,000 after acquiring an additional 904,909 shares during the period. Finally, Hillsdale Investment Management Inc. increased its stake in shares of Royal Bank of Canada by 360.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 881,128 shares of the financial services provider's stock worth $106,123,000 after purchasing an additional 689,904 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RY has been the topic of several analyst reports. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday. CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research report on Friday. Finally, StockNews.com raised shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Royal Bank of Canada presently has a consensus rating of "Buy" and a consensus price target of $156.50.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock traded down $3.98 during trading hours on Friday, hitting $111.13. The company's stock had a trading volume of 2,439,433 shares, compared to its average volume of 1,060,685. 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. The business has a 50 day moving average price of $116.60 and a two-hundred day moving average price of $120.69. The company has a market cap of $156.88 billion, a PE ratio of 13.45, a PEG ratio of 1.80 and a beta of 0.82.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.69%. Royal Bank of Canada's payout ratio is 45.96%.

About Royal Bank of Canada

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.