TD Asset Management Inc. Has $3.76 Billion Stake in Royal Bank of Canada (NYSE:RY)

TD Asset Management Inc. lessened its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,237,938 shares of the financial services provider’s stock after selling 41,504 shares during the quarter. Royal Bank of Canada makes up about 3.3% of TD Asset Management Inc.’s investment portfolio, making the stock its 4th largest position. TD Asset Management Inc.’s holdings in Royal Bank of Canada were worth $3,764,539,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. increased its stake in Royal Bank of Canada by 14.0% in the third quarter. Advisors Asset Management Inc. now owns 3,743 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 461 shares during the period. King Luther Capital Management Corp acquired a new stake in Royal Bank of Canada during the third quarter valued at approximately $255,000. Citigroup Inc. boosted its holdings in Royal Bank of Canada by 14.8% during the third quarter. Citigroup Inc. now owns 311,146 shares of the financial services provider’s stock valued at $38,877,000 after purchasing an additional 40,178 shares in the last quarter. Nwam LLC bought a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $354,000. Finally, Cerity Partners LLC raised its holdings in shares of Royal Bank of Canada by 24.6% in the 3rd quarter. Cerity Partners LLC now owns 43,487 shares of the financial services provider’s stock worth $5,424,000 after buying an additional 8,576 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RY. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, BMO Capital Markets dropped their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Trading Up 2.0 %

RY opened at $115.91 on Tuesday. The firm has a 50 day simple moving average of $117.80 and a 200 day simple moving average of $121.24. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The company has a market cap of $163.63 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. 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 Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 45.96%.

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.