Royal Bank of Canada (NYSE:RY) Shares Sold by Value Partners Investments Inc.

Value Partners Investments Inc. decreased its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 85.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,884 shares of the financial services provider's stock after selling 273,254 shares during the quarter. Royal Bank of Canada makes up about 3.2% of Value Partners Investments Inc.'s investment portfolio, making the stock its 7th largest position. Value Partners Investments Inc.'s holdings in Royal Bank of Canada were worth $5,768,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RY. Vanguard Group Inc. raised its position in shares of Royal Bank of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock worth $7,136,056,000 after acquiring an additional 1,104,975 shares during the last quarter. Norges Bank bought a new stake in shares of Royal Bank of Canada during the fourth quarter worth $2,425,519,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of 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 last quarter. Scotia Capital Inc. raised its position in shares of Royal Bank of Canada by 1.9% during the fourth quarter. Scotia Capital Inc. now owns 8,891,023 shares of the financial services provider's stock worth $1,071,536,000 after acquiring an additional 169,437 shares during the last quarter. Finally, Geode Capital Management LLC raised its position 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 acquiring an additional 1,991,364 shares during the last quarter. Institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Trading Up 0.1%

NYSE:RY traded up $0.19 on Wednesday, reaching $129.05. The company's stock had a trading volume of 1,025,814 shares, compared to its average volume of 1,131,084. Royal Bank of Canada has a 1-year low of $102.44 and a 1-year high of $135.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $182.53 billion, a PE ratio of 15.62, a PEG ratio of 1.80 and a beta of 0.89. The business's 50-day moving average price is $118.11 and its two-hundred day moving average price is $119.56.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th were given a dividend of $1.0251 per share. The ex-dividend date was Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.18%. Royal Bank of Canada's dividend payout ratio is currently 46.18%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. CIBC reiterated an "outperform" rating on shares of Royal Bank of Canada in a report on Tuesday, May 20th. Scotiabank assumed coverage on Royal Bank of Canada in a report on Thursday, May 15th. They issued a "sector outperform" rating for the company. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Finally, Wall Street Zen raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of "Moderate 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.