Pictet Asset Management Holding SA Has $63.70 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Pictet Asset Management Holding SA reduced its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 528,601 shares of the financial services provider’s stock after selling 6,281 shares during the period. Pictet Asset Management Holding SA’s holdings in Royal Bank of Canada were worth $63,702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Dunhill Financial LLC bought a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at $26,000. Roxbury Financial LLC bought a new stake in Royal Bank of Canada in the fourth quarter valued at $29,000. Jackson Grant Investment Advisers Inc. acquired a new position in Royal Bank of Canada during the fourth quarter worth $36,000. Finally, Kieckhefer Group LLC bought a new position in shares of Royal Bank of Canada during the fourth quarter valued at $36,000. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

RY has been the subject of a number of recent analyst reports. BMO Capital Markets dropped 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. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a 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 analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada 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. The firm has a 50 day simple moving average of $117.43 and a 200 day simple moving average of $121.04. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The firm has a market cap of $158.17 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The company also recently announced 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. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.66%. Royal Bank of Canada’s payout ratio is currently 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.