Wellington Management Group LLP Lowers Stake in Royal Bank of Canada (NYSE:RY)

Wellington Management Group LLP lessened its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,251,910 shares of the financial services provider’s stock after selling 863,102 shares during the period. Wellington Management Group LLP owned 0.51% of Royal Bank of Canada worth $873,940,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dunhill Financial LLC purchased a new position in shares of Royal Bank of Canada during the third quarter worth approximately $25,000. WealthTrak Capital Management LLC purchased a new position in Royal Bank of Canada during the 4th quarter worth $28,000. Roxbury Financial LLC purchased a new position in Royal Bank of Canada during the 4th quarter worth $29,000. Kieckhefer Group LLC bought a new stake in Royal Bank of Canada during the 4th quarter valued at $36,000. Finally, Crews Bank & Trust purchased a new stake in shares of Royal Bank of Canada in the 4th quarter worth $36,000. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on RY shares. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Finally, BMO Capital Markets dropped their price objective 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. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Royal Bank of Canada has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at $112.66 on Tuesday. The company has a market capitalization of $159.04 billion, a PE ratio of 13.64, a P/E/G ratio of 1.80 and a beta of 0.88. The company has a 50-day simple moving average of $117.27 and a two-hundred day simple moving average of $120.95. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86.

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 dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.64%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 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.