Capital World Investors Has $967.92 Million Holdings in Royal Bank of Canada (NYSE:RY)

Capital World Investors trimmed its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,027,552 shares of the financial services provider's stock after selling 716,641 shares during the quarter. Capital World Investors owned about 0.57% of Royal Bank of Canada worth $967,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in Royal Bank of Canada in the 4th quarter valued at $2,425,519,000. Geode Capital Management LLC lifted its holdings in shares of Royal Bank of Canada by 31.2% during the fourth quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock worth $1,027,061,000 after buying an additional 1,991,364 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Royal Bank of Canada by 1,600.9% in the fourth quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider's stock valued at $166,084,000 after acquiring an additional 1,343,174 shares during the period. Vanguard Group Inc. grew its stake 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 acquiring an additional 1,104,975 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Royal Bank of Canada by 9.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock worth $1,338,156,000 after acquiring an additional 921,276 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock traded down $0.06 during trading on Friday, reaching $117.61. 260,288 shares of the company's stock were exchanged, compared to its average volume of 1,095,919. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current 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 company has a market cap of $166.03 billion, a P/E ratio of 14.22, a PEG ratio of 1.80 and a beta of 0.82. The firm's 50-day moving average price is $114.67 and its 200 day moving average price is $119.72.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.49%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's payout ratio is 46.18%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. Finally, Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $156.50.

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.