Level Four Advisory Services LLC Sells 4,159 Shares of Royal Bank of Canada (NYSE:RY)

Level Four Advisory Services LLC lessened its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 24.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 & Exchange Commission.

Several other hedge funds also recently made changes to their positions in RY. Norges Bank bought a new position in Royal Bank of Canada in the fourth quarter worth $2,425,519,000. Vanguard Group Inc. grew its position in shares of Royal Bank of Canada by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider’s stock worth $7,136,056,000 after buying an additional 1,104,975 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Royal Bank of Canada by 9.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider’s stock worth $1,338,156,000 after acquiring an additional 921,276 shares in the last quarter. Mufg Securities Canada LTD. lifted its position in Royal Bank of Canada by 72.0% during the 4th quarter. Mufg Securities Canada LTD. now owns 2,160,865 shares of the financial services provider’s stock valued at $260,373,000 after acquiring an additional 904,909 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its stake in Royal Bank of Canada by 360.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 881,128 shares of the financial services provider’s stock worth $106,123,000 after acquiring an additional 689,904 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RY shares. 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 note on Thursday, December 5th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Trading Down 2.3 %

NYSE:RY opened at $112.04 on Friday. Royal Bank of Canada has a 52 week low of $95.84 and a 52 week high of $128.05. The stock has a market cap of $158.17 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.80 and a beta of 0.88. The company’s 50 day moving average price is $117.43 and its 200-day moving average price is $121.04. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Cuts Dividend

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