Clearbridge Investments LLC Has $183.57 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Clearbridge Investments LLC reduced its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,523,267 shares of the financial services provider’s stock after selling 179,308 shares during the period. Clearbridge Investments LLC’s holdings in Royal Bank of Canada were worth $183,569,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC grew its holdings in Royal Bank of Canada by 144.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 16,295 shares of the financial services provider’s stock worth $1,982,000 after acquiring an additional 9,627 shares during the last quarter. WealthTrak Capital Management LLC acquired a new position in shares of Royal Bank of Canada during the fourth quarter worth $28,000. Brown Brothers Harriman & Co. grew its stake in shares of Royal Bank of Canada by 6.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 18,436 shares of the financial services provider’s stock worth $2,222,000 after purchasing an additional 1,160 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in Royal Bank of Canada by 9.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,458 shares of the financial services provider’s stock valued at $2,345,000 after purchasing an additional 1,729 shares during the period. Finally, Norges Bank bought a new position in Royal Bank of Canada during the 4th quarter worth $2,425,519,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. BMO Capital Markets decreased their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Finally, StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Three investment 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 company’s stock. According to MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Performance

RY stock opened at $112.04 on Monday. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $117.43 and a 200-day moving average price of $121.03. The firm has a market cap of $158.17 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

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.