Royal Bank of Canada (NYSE:RY) Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 200,855 shares of the financial services provider’s stock after selling 640 shares during the quarter. American Century Companies Inc.’s holdings in Royal Bank of Canada were worth $21,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of RY. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth $301,000. Avantax Advisory Services Inc. boosted its holdings in shares of Royal Bank of Canada by 23.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,101 shares of the financial services provider’s stock valued at $516,000 after acquiring an additional 964 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Royal Bank of Canada by 5.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 80,677 shares of the financial services provider’s stock worth $8,159,000 after acquiring an additional 4,476 shares during the period. UBS Group AG raised its holdings in Royal Bank of Canada by 26.7% during the fourth quarter. UBS Group AG now owns 469,632 shares of the financial services provider’s stock worth $47,494,000 after purchasing an additional 98,983 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in Royal Bank of Canada by 16.8% in the fourth quarter. Corient Private Wealth LLC now owns 35,993 shares of the financial services provider’s stock valued at $3,640,000 after purchasing an additional 5,164 shares during the period. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $123.05 on Friday. The stock has a fifty day moving average price of $114.64 and a 200 day moving average price of $106.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $174.12 billion, a PE ratio of 15.27, a P/E/G ratio of 2.00 and a beta of 0.86. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $124.46.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be paid a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.49%.

Analyst Ratings Changes

Several research firms have issued reports on RY. Argus boosted their target price on Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. BMO Capital Markets upped their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. UBS Group started coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They issued a “buy” rating for the company. Finally, StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.50.

About Royal Bank of Canada

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.