TD Waterhouse Canada Inc. Has $656.50 Million Stock Position in Royal Bank of Canada (NYSE:RY)

TD Waterhouse Canada Inc. trimmed its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,453,838 shares of the financial services provider’s stock after selling 80,627 shares during the period. Royal Bank of Canada makes up approximately 5.3% of TD Waterhouse Canada Inc.’s holdings, making the stock its largest position. TD Waterhouse Canada Inc.’s holdings in Royal Bank of Canada were worth $656,504,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ruggaard & Associates LLC raised its holdings in Royal Bank of Canada by 1.8% in the fourth quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider’s stock worth $565,000 after buying an additional 85 shares during the last quarter. Financial Management Professionals Inc. raised its holdings in Royal Bank of Canada by 26.8% in the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 90 shares during the last quarter. Ballentine Partners LLC lifted its position in Royal Bank of Canada by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 94 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in Royal Bank of Canada by 45.7% during the 4th quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 96 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in shares of Royal Bank of Canada by 0.8% in the 4th quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider’s stock worth $1,502,000 after purchasing an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Shares of RY opened at $116.14 on Monday. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05. The business has a fifty day moving average of $114.82 and a 200 day moving average of $119.83. 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 firm has a market capitalization of $163.95 billion, a P/E ratio of 14.06, a PEG ratio of 1.80 and a beta of 0.82.

Royal Bank of Canada Cuts Dividend

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

Wall Street Analysts Forecast Growth

RY has been the topic of a number of research analyst reports. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Friday, April 4th. Finally, StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $156.50.

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.