Level Four Advisory Services LLC Reduces Stock Position in Royal Bank of Canada (NYSE:RY)

Level Four Advisory Services LLC cut its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 24.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,701 shares of the financial services provider’s stock after selling 4,159 shares during the quarter. Level Four Advisory Services LLC’s holdings in Royal Bank of Canada were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Portfolio Solutions LLC lifted 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 acquiring an additional 1,729 shares during the period. Norges Bank purchased a new stake in shares of Royal Bank of Canada during the 4th quarter valued at about $2,425,519,000. Blair William & Co. IL increased its position in shares of Royal Bank of Canada by 0.6% during the 4th quarter. Blair William & Co. IL now owns 22,150 shares of the financial services provider’s stock valued at $2,669,000 after purchasing an additional 136 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in shares of Royal Bank of Canada by 26.7% in the 4th quarter. UniSuper Management Pty Ltd now owns 466,200 shares of the financial services provider’s stock worth $56,182,000 after purchasing an additional 98,300 shares during the period. Finally, Mufg Securities Canada LTD. boosted its holdings in shares of Royal Bank of Canada by 72.0% in the fourth quarter. Mufg Securities Canada LTD. now owns 2,160,865 shares of the financial services provider’s stock worth $260,373,000 after buying an additional 904,909 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RY has been the subject of a number of research reports. CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, BMO Capital Markets lowered their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Down 2.3 %

Shares of RY stock opened at $112.04 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05. The company’s fifty day moving average price is $117.43 and its 200-day moving average price is $121.04. The company has a market capitalization of $158.17 billion, a price-to-earnings ratio of 13.56, a PEG 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 issued a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.66%. Royal Bank of Canada’s dividend payout ratio 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.