Royal Bank of Canada (NYSE:RY) Holdings Trimmed by Lido Advisors LLC

Lido Advisors LLC cut its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,673 shares of the financial services provider’s stock after selling 134 shares during the quarter. Lido Advisors LLC’s holdings in Royal Bank of Canada were worth $202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RY. Vanguard Group Inc. grew its holdings in shares of Royal Bank of Canada by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider’s stock worth $7,136,056,000 after acquiring an additional 1,104,975 shares during the last quarter. Norges Bank acquired a new stake in Royal Bank of Canada during the 4th quarter worth about $2,425,519,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Royal Bank of Canada by 9.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider’s stock worth $1,338,156,000 after buying an additional 921,276 shares during the period. Scotia Capital Inc. lifted its stake in Royal Bank of Canada by 1.9% during the fourth quarter. Scotia Capital Inc. now owns 8,891,023 shares of the financial services provider’s stock valued at $1,071,536,000 after buying an additional 169,437 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Royal Bank of Canada by 31.2% in the fourth quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider’s stock worth $1,027,061,000 after buying an additional 1,991,364 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RY has been the subject of several research analyst reports. CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday, April 4th. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Finally, StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Performance

RY stock opened at $120.27 on Wednesday. The firm has a 50 day moving average of $114.79 and a two-hundred day moving average of $119.46. Royal Bank of Canada has a 12 month low of $100.32 and a 12 month high of $128.05. The company has a market capitalization of $169.78 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 1.80 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is presently 46.18%.

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.