Hemenway Trust Co LLC Reduces Holdings in Royal Bank of Canada (NYSE:RY)

Hemenway Trust Co LLC lowered its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,190 shares of the financial services provider’s stock after selling 350 shares during the quarter. Hemenway Trust Co LLC’s holdings in Royal Bank of Canada were worth $384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in shares of Royal Bank of Canada by 38.7% in the third 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 last quarter. Edgestream Partners L.P. purchased a new position in Royal Bank of Canada in the 3rd quarter worth $352,000. Janus Henderson Group PLC raised its stake in Royal Bank of Canada by 4.9% in the 3rd quarter. Janus Henderson Group PLC now owns 148,580 shares of the financial services provider’s stock worth $18,561,000 after acquiring an additional 6,900 shares during the last quarter. Polar Asset Management Partners Inc. lifted its position in Royal Bank of Canada by 50.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 15,000 shares of the financial services provider’s stock worth $1,873,000 after acquiring an additional 5,000 shares during the period. Finally, Quantinno Capital Management LP grew its stake in Royal Bank of Canada by 9.6% during the 3rd quarter. Quantinno Capital Management LP now owns 54,316 shares of the financial services provider’s stock valued at $6,775,000 after purchasing an additional 4,753 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Trading Down 3.5 %

Shares of NYSE:RY opened at $111.13 on Friday. The company has a market capitalization of $156.88 billion, a PE ratio of 13.45, a PEG ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. The business has a 50 day moving average of $116.60 and a two-hundred day moving average of $120.71. 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 Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is currently 45.96%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RY shares. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, CIBC raised shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Friday. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of “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.