UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $206.89 Million Position in Royal Bank of Canada (NYSE:RY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,716,771 shares of the financial services provider's stock after selling 91,426 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.12% of Royal Bank of Canada worth $206,888,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Royal Bank of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock worth $7,136,056,000 after buying an additional 1,104,975 shares during the last quarter. Norges Bank acquired a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $2,425,519,000. Connor Clark & Lunn Investment Management Ltd. lifted 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 worth $1,338,156,000 after buying an additional 921,276 shares during the last quarter. Scotia Capital Inc. lifted its stake in shares of Royal Bank of Canada by 1.9% during the 4th quarter. Scotia Capital Inc. now owns 8,891,023 shares of the financial services provider's stock worth $1,071,536,000 after buying an additional 169,437 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Royal Bank of Canada by 31.2% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RY shares. Cibc World Mkts upgraded shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. CIBC restated an "outperform" rating on shares of Royal Bank of Canada in a research note on Tuesday, May 20th. Scotiabank assumed coverage on shares of Royal Bank of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating for the company. Finally, Wall Street Zen raised shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Two investment 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 stock. According to data from MarketBeat.com, Royal Bank of Canada currently has an average rating of "Moderate Buy" and a consensus target price of $156.50.

Royal Bank of Canada Stock Performance

NYSE:RY traded up $0.30 during mid-day trading on Wednesday, reaching $129.16. 270,676 shares of the company's stock were exchanged, compared to its average volume of 1,125,261. Royal Bank of Canada has a one year low of $102.44 and a one year high of $130.11. The firm has a market capitalization of $182.69 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89. The business's fifty day simple moving average is $118.11 and its two-hundred day simple moving average is $119.56. 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 Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th were paid a dividend of $1.0251 per share. The ex-dividend date was Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.17%. Royal Bank of Canada's payout ratio is 46.18%.

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.