Royal Bank of Canada (NYSE:RY) Shares Sold by M. Kulyk & Associates LLC

M. Kulyk & Associates LLC lessened its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,777 shares of the financial services provider’s stock after selling 6,945 shares during the quarter. Royal Bank of Canada comprises approximately 2.4% of M. Kulyk & Associates LLC’s holdings, making the stock its 12th biggest holding. M. Kulyk & Associates LLC’s holdings in Royal Bank of Canada were worth $11,181,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Royal Bank of Canada by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after acquiring an additional 64,450 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Royal Bank of Canada by 6.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after acquiring an additional 4,980 shares during the period. CIBC Asset Management Inc raised its stake in shares of Royal Bank of Canada by 0.9% in the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after acquiring an additional 124,348 shares during the period. Algert Global LLC purchased a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $706,000. Finally, Bridgewater Associates LP raised its stake in shares of Royal Bank of Canada by 150.7% in the 3rd quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after acquiring an additional 44,494 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RY. BMO Capital Markets dropped 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. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Two equities 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Price Performance

Shares of RY stock opened at $115.07 on Friday. The firm has a market cap of $162.74 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The firm has a fifty day moving average of $119.55 and a two-hundred day moving average of $121.65.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.56%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 45.96%.

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.