Twin Tree Management LP Lowers Stock Holdings in Royal Bank of Canada (NYSE:RY)

Twin Tree Management LP trimmed its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 34,267 shares of the financial services provider’s stock after selling 2,916 shares during the period. Twin Tree Management LP’s holdings in Royal Bank of Canada were worth $4,130,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RY. Dunhill Financial LLC purchased a new position in Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada in the 3rd quarter worth approximately $26,000. Roxbury Financial LLC purchased a new position in Royal Bank of Canada in the 4th quarter worth approximately $29,000. Jackson Grant Investment Advisers Inc. purchased a new position in Royal Bank of Canada in the 4th quarter worth approximately $36,000. Finally, Kieckhefer Group LLC purchased a new position in Royal Bank of Canada in the 4th quarter worth approximately $36,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Trading Down 0.2 %

Shares of RY stock opened at $112.45 on Wednesday. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05. The firm has a fifty day moving average price of $118.26 and a 200-day moving average price of $121.43. 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 has a market cap of $158.74 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.96%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RY shares. BMO Capital Markets decreased their price objective on shares of 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. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate 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.