Royal Bank of Canada (NYSE:RY) Stock Holdings Lessened by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. cut its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.1% during the second quarter, HoldingsChannel.com reports. The firm owned 17,532 shares of the financial services provider’s stock after selling 560 shares during the period. Brown Brothers Harriman & Co.’s holdings in Royal Bank of Canada were worth $1,865,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RY. TD Asset Management Inc raised its stake in shares of Royal Bank of Canada by 21.7% during the 4th quarter. TD Asset Management Inc now owns 32,571,491 shares of the financial services provider’s stock worth $3,310,010,000 after purchasing an additional 5,810,077 shares in the last quarter. Capital World Investors acquired a new stake in Royal Bank of Canada in the fourth quarter valued at approximately $365,246,000. National Bank of Canada FI grew its position in Royal Bank of Canada by 16.7% in the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $2,141,681,000 after acquiring an additional 2,901,033 shares in the last quarter. Clearbridge Investments LLC acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth $181,141,000. Finally, Vanguard Group Inc. raised its holdings in shares of Royal Bank of Canada by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 54,730,646 shares of the financial services provider’s stock valued at $5,534,910,000 after purchasing an additional 1,603,427 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RY. UBS Group assumed coverage on shares of Royal Bank of Canada in a report on Tuesday, July 2nd. They issued a “buy” rating for the company. Argus increased their price objective on Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 6th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. Finally, BMO Capital Markets increased their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Price Performance

NYSE RY opened at $123.33 on Tuesday. The stock has a 50-day simple moving average of $113.88 and a 200 day simple moving average of $106.49. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $124.46. The stock has a market capitalization of $174.52 billion, a PE ratio of 15.30, a P/E/G ratio of 2.01 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be issued a dividend of $1.028 per share. The ex-dividend date is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.33%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.49%.

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.