Fmr LLC Sells 1,517,440 Shares of Royal Bank of Canada (NYSE:RY)

Fmr LLC cut its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 8.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,348,581 shares of the financial services provider’s stock after selling 1,517,440 shares during the quarter. Fmr LLC owned approximately 1.16% of Royal Bank of Canada worth $1,971,222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ruggaard & Associates LLC raised its holdings in shares of Royal Bank of Canada by 1.8% in the fourth quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider’s stock valued at $565,000 after acquiring an additional 85 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co raised its holdings in shares of Royal Bank of Canada by 40.4% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 118,249 shares of the financial services provider’s stock valued at $14,244,000 after purchasing an additional 34,000 shares in the last quarter. Wedbush Securities Inc. boosted its stake in shares of Royal Bank of Canada by 9.2% during the fourth quarter. Wedbush Securities Inc. now owns 9,546 shares of the financial services provider’s stock valued at $1,150,000 after purchasing an additional 807 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Royal Bank of Canada by 2.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 338,009 shares of the financial services provider’s stock worth $40,733,000 after buying an additional 7,296 shares in the last quarter. Finally, Aviva PLC lifted its holdings in Royal Bank of Canada by 14.9% during the fourth quarter. Aviva PLC now owns 852,311 shares of the financial services provider’s stock worth $102,560,000 after buying an additional 110,754 shares during the period. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of RY opened at $111.13 on Monday. The firm has a market capitalization of $156.88 billion, a PE ratio of 13.45, a price-to-earnings-growth 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. The company’s fifty day moving average price is $116.60 and its 200-day moving average price is $120.68. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05.

Royal Bank of Canada Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RY shares. CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, Cibc World Mkts raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target 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.