Amundi Cuts Stake in Royal Bank of Canada (NYSE:RY)

Amundi cut its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,362,476 shares of the financial services provider’s stock after selling 225,883 shares during the quarter. Amundi’s holdings in Royal Bank of Canada were worth $165,772,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in shares of Royal Bank of Canada by 485.4% in the 4th quarter. Larson Financial Group LLC now owns 1,206 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,000 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. raised its stake in Royal Bank of Canada by 1.1% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,242,836 shares of the financial services provider’s stock worth $149,662,000 after buying an additional 13,781 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Royal Bank of Canada during the fourth quarter worth $2,772,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in Royal Bank of Canada by 735.3% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 77,538 shares of the financial services provider’s stock valued at $9,344,000 after acquiring an additional 68,255 shares in the last quarter. Finally, Andra AP fonden purchased a new position in shares of Royal Bank of Canada in the 4th quarter valued at $241,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $115.07 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average of $119.55 and a 200 day moving average of $121.71. The firm has a market capitalization of $162.74 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.56%. Royal Bank of Canada’s dividend payout ratio is currently 45.96%.

Analyst Ratings Changes

RY has been the subject of a number of analyst reports. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. BMO Capital Markets reduced their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

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.