DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 14,703 Shares of Royal Bank of Canada (NYSE:RY)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lessened its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 35.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 26,940 shares of the financial services provider's stock after selling 14,703 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Royal Bank of Canada were worth $3,247,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Royal Bank of Canada by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider's stock valued at $427,589,000 after buying an additional 64,450 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth $60,034,000. Wealth High Governance Capital Ltda acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth $10,243,000. Jones Financial Companies Lllp raised its position in shares of Royal Bank of Canada by 1,322.0% during the fourth quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider's stock worth $483,000 after purchasing an additional 3,728 shares during the period. Finally, APG Asset Management N.V. raised its position in shares of Royal Bank of Canada by 1,600.9% during the fourth quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider's stock worth $166,084,000 after purchasing an additional 1,343,174 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RY shares. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research report on Friday, April 4th. Finally, Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $156.50.

Royal Bank of Canada Stock Up 0.6%

RY stock traded up $0.77 during mid-day trading on Wednesday, hitting $122.57. The stock had a trading volume of 1,180,348 shares, compared to its average volume of 1,107,243. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 1-year low of $102.44 and a 1-year high of $128.05. The company has a fifty day moving average of $115.30 and a 200 day moving average of $119.33. The stock has a market capitalization of $173.03 billion, a price-to-earnings ratio of 14.84, 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. Shareholders of record on Thursday, April 24th will be given a $1.0251 dividend. This represents a $4.10 annualized dividend and a yield of 3.35%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's payout ratio is currently 46.18%.

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.