Whittier Trust Co. Lowers Position in Royal Bank of Canada (NYSE:RY)

Whittier Trust Co. cut its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,541 shares of the financial services provider’s stock after selling 170 shares during the quarter. Whittier Trust Co.’s holdings in Royal Bank of Canada were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Northwest & Ethical Investments L.P. raised its stake in shares of Royal Bank of Canada by 1.2% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 434,184 shares of the financial services provider’s stock worth $52,258,000 after purchasing an additional 5,168 shares during the last quarter. Generali Asset Management SPA SGR bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at approximately $3,198,000. Thrivent Financial for Lutherans bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at approximately $214,000. PDS Planning Inc grew its holdings in shares of Royal Bank of Canada by 5.4% in the fourth quarter. PDS Planning Inc now owns 4,084 shares of the financial services provider’s stock valued at $492,000 after acquiring an additional 209 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at approximately $70,429,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RY has been the subject of several recent analyst reports. BMO Capital Markets reduced their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $113.71 on Monday. The stock 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 has a 1-year low of $95.84 and a 1-year high of $128.05. The firm has a market cap of $160.52 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.61%. The ex-dividend date 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.