Royal Bank of Canada (NYSE:RY) Shares Sold by Financial Engines Advisors L.L.C.

Financial Engines Advisors L.L.C. reduced its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,374 shares of the financial services provider’s stock after selling 395 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Royal Bank of Canada were worth $1,612,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada in the third quarter valued at $25,000. Larson Financial Group LLC purchased a new stake in shares of Royal Bank of Canada in the third quarter worth about $26,000. Roxbury Financial LLC acquired a new stake in Royal Bank of Canada during the fourth quarter worth about $29,000. Kieckhefer Group LLC purchased a new position in Royal Bank of Canada during the fourth quarter valued at approximately $36,000. Finally, Crews Bank & Trust acquired a new position in Royal Bank of Canada in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RY shares. BMO Capital Markets cut 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 report on Thursday, December 5th. CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Finally, StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. 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 Stock Performance

NYSE:RY opened at $116.29 on Thursday. 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 fifty day moving average of $117.70 and a two-hundred day moving average of $121.17. 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 stock has a market capitalization of $164.17 billion, a PE ratio of 14.08, a P/E/G ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 45.96%.

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.