Ameriprise Financial Inc. Cuts Stock Holdings in Royal Bank of Canada (NYSE:RY)

Ameriprise Financial Inc. lessened its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 210,528 shares of the financial services provider's stock after selling 4,533 shares during the period. Ameriprise Financial Inc.'s holdings in Royal Bank of Canada were worth $25,371,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. WealthTrak Capital Management LLC acquired a new position in shares of Royal Bank of Canada during the 4th quarter valued at $28,000. Roxbury Financial LLC acquired a new stake in shares of Royal Bank of Canada in the fourth quarter worth $29,000. Optiver Holding B.V. acquired a new stake in shares of Royal Bank of Canada in the fourth quarter worth $35,000. Crews Bank & Trust acquired a new stake in Royal Bank of Canada during the fourth quarter valued at $36,000. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in Royal Bank of Canada during the fourth quarter valued at $36,000. Institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock traded up $1.31 during trading hours on Monday, hitting $127.13. 442,538 shares of the company's stock traded hands, compared to its average volume of 1,113,589. The company has a fifty day simple moving average of $115.99 and a 200-day simple moving average of $119.33. 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 12-month low of $102.44 and a 12-month high of $128.05. The stock has a market capitalization of $179.81 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.80 and a beta of 0.89.

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 given a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.23%. Royal Bank of Canada's payout ratio is 46.18%.

Analyst Ratings Changes

A number of equities analysts have recently commented on RY shares. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. CIBC upgraded shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research report on Friday, April 4th. Finally, Scotiabank began coverage on shares of Royal Bank of Canada in a research report on Thursday. They issued a "sector outperform" rating for the company. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.