Royal Bank of Canada (NYSE:RY) Shares Sold by Van Lanschot Kempen Investment Management N.V.

Van Lanschot Kempen Investment Management N.V. reduced its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 7.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,948 shares of the financial services provider’s stock after selling 25,587 shares during the period. Van Lanschot Kempen Investment Management N.V.’s holdings in Royal Bank of Canada were worth $37,713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RY. Charles Schwab Investment Management Inc. raised its stake in 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 purchasing an additional 64,450 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Royal Bank of Canada in the fourth quarter valued at approximately $60,034,000. Wealth High Governance Capital Ltda purchased a new position in shares of Royal Bank of Canada during the fourth quarter valued at approximately $10,243,000. Jones Financial Companies Lllp lifted its stake in shares of Royal Bank of Canada by 1,322.0% during the fourth quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider’s stock valued at $483,000 after buying an additional 3,728 shares during the period. Finally, APG Asset Management N.V. boosted its position in Royal Bank of Canada by 1,600.9% during the fourth quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider’s stock worth $166,084,000 after acquiring an additional 1,343,174 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Performance

Shares of NYSE:RY opened at $116.14 on Monday. The firm has a market capitalization of $163.95 billion, a PE ratio of 14.06, a P/E/G 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 company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $114.82 and a two-hundred day moving average of $119.83.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.53%. Royal Bank of Canada’s payout ratio is 46.18%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RY. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. CIBC upgraded Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday, April 4th. Finally, Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus 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.