Clearbridge Investments LLC Sells 179,308 Shares of Royal Bank of Canada (NYSE:RY)

Clearbridge Investments LLC lessened its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,523,267 shares of the financial services provider’s stock after selling 179,308 shares during the period. Clearbridge Investments LLC owned about 0.11% of Royal Bank of Canada worth $183,569,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC acquired a new stake in Royal Bank of Canada during the 3rd quarter valued at $26,000. BNP Paribas Financial Markets boosted its holdings in shares of Royal Bank of Canada by 38.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,276 shares of the financial services provider’s stock worth $159,000 after buying an additional 356 shares during the period. Townsquare Capital LLC grew its stake in Royal Bank of Canada by 21.1% in the 3rd quarter. Townsquare Capital LLC now owns 20,030 shares of the financial services provider’s stock valued at $2,498,000 after buying an additional 3,496 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in Royal Bank of Canada by 5.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,157 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 165 shares during the period. Finally, Hantz Financial Services Inc. acquired a new stake in Royal Bank of Canada during the third quarter worth approximately $62,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Trading Down 2.3 %

Shares of Royal Bank of Canada stock opened at $112.04 on Monday. 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 has a 12-month low of $95.84 and a 12-month high of $128.05. The company has a market capitalization of $158.17 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.80 and a beta of 0.88. The firm’s 50-day moving average price is $117.43 and its two-hundred day moving average price is $121.03.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.66%. Royal Bank of Canada’s dividend payout ratio (DPR) is 45.96%.

Analysts Set New Price Targets

Several analysts recently weighed in on RY shares. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. BMO Capital Markets decreased their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus 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.