Royal Bank of Canada (NYSE:RY) Stock Position Reduced by Value Partners Investments Inc.

Value Partners Investments Inc. cut its stake 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 disclosure with the SEC. The institutional investor owned 47,884 shares of the financial services provider's stock after selling 273,254 shares during the quarter. Royal Bank of Canada comprises about 0.2% of Value Partners Investments Inc.'s holdings, making the stock its 8th largest position. Value Partners Investments Inc.'s holdings in Royal Bank of Canada were worth $5,771,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position 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 worth $7,136,056,000 after buying an additional 1,104,975 shares in the last quarter. Norges Bank bought a new stake in Royal Bank of Canada during the fourth quarter valued at approximately $2,425,519,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Royal Bank of Canada by 9.0% in 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. raised its position 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 valued at $1,071,536,000 after buying an additional 169,437 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Royal Bank of Canada by 31.2% in 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 in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

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

Royal Bank of Canada Trading Up 0.4 %

RY traded up $0.52 during midday trading on Friday, reaching $116.14. 1,090,937 shares of the company's stock traded hands, compared to its average volume of 1,104,813. The firm has a fifty day moving average of $114.82 and a two-hundred day moving average of $119.86. The stock has a market capitalization of $163.95 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.80 and a beta of 0.82. 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 52 week low of $95.84 and a 52 week high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is currently 46.18%.

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.