Royal Bank of Canada (NYSE:RY) Holdings Reduced by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc lowered its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 178,956 shares of the financial services provider’s stock after selling 1,621 shares during the period. Royal Bank of Canada accounts for 3.4% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 5th largest position. K.J. Harrison & Partners Inc’s holdings in Royal Bank of Canada were worth $21,382,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in RY. FMR LLC increased its holdings in shares of Royal Bank of Canada by 75.8% during the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after buying an additional 7,702,585 shares during the last quarter. CIBC Asset Management Inc grew its position in Royal Bank of Canada by 0.9% in the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after acquiring an additional 124,348 shares during the period. Geode Capital Management LLC increased its stake in Royal Bank of Canada by 9.3% during the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock worth $805,616,000 after acquiring an additional 541,760 shares during the last quarter. Fiera Capital Corp increased its stake in Royal Bank of Canada by 3.7% during the third quarter. Fiera Capital Corp now owns 4,759,385 shares of the financial services provider’s stock worth $594,791,000 after acquiring an additional 171,125 shares during the last quarter. Finally, Alberta Investment Management Corp raised its position in Royal Bank of Canada by 0.4% in the fourth quarter. Alberta Investment Management Corp now owns 3,583,817 shares of the financial services provider’s stock valued at $431,892,000 after purchasing an additional 15,300 shares during the period. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Performance

NYSE RY opened at $119.52 on Thursday. The company has a market cap of $169.04 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.80 and a beta of 0.87. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. 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 stock has a 50-day moving average of $120.28 and a two-hundred day moving average of $121.43.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, January 27th were paid a dividend of $1.0522 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a yield of 3.52%. The ex-dividend date was Monday, January 27th. Royal Bank of Canada’s dividend payout ratio is presently 49.76%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RY shares. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. BMO Capital Markets reduced 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, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.