Royal Bank of Canada (NYSE:RY) Stake Lessened by Unigestion Holding SA

Unigestion Holding SA trimmed its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,627 shares of the financial services provider’s stock after selling 23,018 shares during the quarter. Unigestion Holding SA’s holdings in Royal Bank of Canada were worth $17,055,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RY. BNP Paribas Financial Markets lifted its position in shares of Royal Bank of Canada by 38.7% during the third quarter. BNP Paribas Financial Markets now owns 1,276 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 356 shares during the last quarter. Edgestream Partners L.P. bought a new position in Royal Bank of Canada during the 3rd quarter worth approximately $352,000. Janus Henderson Group PLC grew its position in shares of Royal Bank of Canada by 4.9% in the 3rd quarter. Janus Henderson Group PLC now owns 148,580 shares of the financial services provider’s stock worth $18,561,000 after acquiring an additional 6,900 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Royal Bank of Canada by 9.6% in the 3rd quarter. Quantinno Capital Management LP now owns 54,316 shares of the financial services provider’s stock valued at $6,775,000 after acquiring an additional 4,753 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of Royal Bank of Canada by 10.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 8,776 shares of the financial services provider’s stock valued at $1,082,000 after acquiring an additional 800 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Performance

Shares of RY opened at $111.13 on Friday. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. The firm’s 50 day moving average is $116.60 and its 200-day moving average is $120.69. The stock has a market capitalization of $156.88 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.80 and a beta of 0.82. 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 Cuts Dividend

The firm 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 dividend of $1.0251 per share. 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 3.69%. Royal Bank of Canada’s payout ratio is presently 45.96%.

Analyst Upgrades and Downgrades

RY has been the subject of a number of research reports. Cibc World Mkts raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday. CIBC raised shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday. Finally, StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Royal Bank of Canada presently has a consensus rating of “Buy” and an average target price of $156.50.

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.