Tradewinds LLC. Sells 700 Shares of Royal Bank of Canada (NYSE:RY)

Tradewinds LLC. trimmed its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,235 shares of the financial services provider’s stock after selling 700 shares during the quarter. Tradewinds LLC.’s holdings in Royal Bank of Canada were worth $973,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in RY. Norges Bank purchased a new position in Royal Bank of Canada in the 4th quarter worth $2,425,519,000. Vanguard Group Inc. increased its holdings 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 during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 valued at $1,338,156,000 after acquiring an additional 921,276 shares during the last quarter. Mufg Securities Canada LTD. boosted its holdings in Royal Bank of Canada by 72.0% during the 4th quarter. Mufg Securities Canada LTD. now owns 2,160,865 shares of the financial services provider’s stock valued at $260,373,000 after acquiring an additional 904,909 shares during the period. Finally, Hillsdale Investment Management Inc. grew its position in Royal Bank of Canada by 360.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 881,128 shares of the financial services provider’s stock worth $106,123,000 after acquiring an additional 689,904 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Up 0.5 %

Shares of Royal Bank of Canada stock opened at $112.66 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. The company has a market cap of $159.04 billion, a P/E ratio of 13.64, a PEG ratio of 1.80 and a beta of 0.88. The company’s fifty day simple moving average is $117.27 and its two-hundred day simple moving average is $120.95.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors 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 yield of 3.64%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is currently 45.96%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. BMO Capital Markets lowered their price target 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. 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 research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Company 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.