Tradewinds LLC. Reduces Position in Royal Bank of Canada (NYSE:RY)

Tradewinds LLC. decreased its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,235 shares of the financial services provider’s stock after selling 700 shares during the period. Tradewinds LLC.’s holdings in Royal Bank of Canada were worth $973,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of RY. Norges Bank purchased a new position in Royal Bank of Canada in the 4th quarter valued at approximately $2,425,519,000. Vanguard Group Inc. grew its position in shares of 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 valued at $7,136,056,000 after purchasing an additional 1,104,975 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised 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 valued at $1,338,156,000 after purchasing an additional 921,276 shares during the period. Mufg Securities Canada LTD. lifted its holdings in 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 worth $260,373,000 after purchasing an additional 904,909 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in Royal Bank of Canada by 360.8% during 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. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 0.5 %

Shares of Royal Bank of Canada stock opened at $112.66 on Tuesday. 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 has a 1 year low of $95.84 and a 1 year high of $128.05. The firm has a market cap of $159.04 billion, a PE ratio of 13.64, a PEG ratio of 1.80 and a beta of 0.88. The company has a 50 day simple moving average of $117.27 and a two-hundred day simple moving average of $120.95.

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 given a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.64%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RY shares. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Finally, BMO Capital Markets reduced 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. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus price target 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.