<div id="readability-page-1"><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/logos/rbc-capital-logo-1200x675.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1200" height="675" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/logos/rbc-capital-logo-1200x675.gif"/>The Manufacturers Life Insurance Company trimmed its stake in Royal Bank of Canada (NYSE:RY - Free Report) <span>TSE: RY<span></span></span> by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,751,388 shares of the financial services provider's stock after selling 71,939 shares during the period. Royal Bank of Canada accounts for about 0.6% of The Manufacturers Life Insurance Company's investment portfolio, making the stock its 21st biggest holding. The Manufacturers Life Insurance Company owned about 0.69% of Royal Bank of Canada worth $987,724,000 as of its most recent filing with the Securities and Exchange Commission.</p><div><p><span></span><span>Get <strong>Royal Bank of Canada</strong> alerts:</span></p></div><ul><li>Taylor Morrison: A Home Building Stock You Can Buy at a Discount</li></ul><p>Other institutional investors and hedge funds have also recently modified their holdings of the company. Campbell &amp; CO Investment Adviser LLC purchased a new position in Royal Bank of Canada during the 4th quarter valued at about $464,000. Alberta Investment Management Corp lifted its position in Royal Bank of Canada by 0.7% during the 4th quarter. Alberta Investment Management Corp now owns 3,364,078 shares of the financial services provider's stock valued at $341,867,000 after acquiring an additional 23,748 shares during the period. Brown Brothers Harriman &amp; Co. lifted its position in Royal Bank of Canada by 5.7% during the 4th quarter. Brown Brothers Harriman &amp; Co. now owns 18,592 shares of the financial services provider's stock valued at $1,880,000 after acquiring an additional 1,000 shares during the period. Bank of Nova Scotia lifted its position in Royal Bank of Canada by 5.1% during the 4th quarter. Bank of Nova Scotia now owns 28,024,917 shares of the financial services provider's stock valued at $2,834,219,000 after acquiring an additional 1,357,956 shares during the period. Finally, Scotia Capital Inc. lifted its position in Royal Bank of Canada by 2.0% during the 4th quarter. Scotia Capital Inc. now owns 8,681,863 shares of the financial services provider's stock valued at $877,399,000 after acquiring an additional 170,644 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors. </p><h2>Wall Street Analysts Forecast Growth</h2><p>A number of brokerages recently issued reports on RY. Barclays began coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They set an &#34;equal weight&#34; rating for the company. StockNews.com raised shares of Royal Bank of Canada from a &#34;sell&#34; rating to a &#34;hold&#34; rating in a research report on Friday. BMO Capital Markets cut shares of Royal Bank of Canada from a &#34;strong-buy&#34; rating to a &#34;hold&#34; rating in a report on Friday. Jefferies Financial Group raised shares of Royal Bank of Canada from a &#34;hold&#34; rating to a &#34;buy&#34; rating in a report on Monday, May 13th. Finally, Scotiabank raised shares of Royal Bank of Canada from a &#34;hold&#34; rating to a &#34;strong-buy&#34; rating in a report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of &#34;Moderate Buy&#34; and a consensus price target of $137.67.</p><ul><li>3 Stocks About to Book Gains on Building Products Demand</li></ul><p><b>Read Our Latest Analysis on RY</b></p><h2>Royal Bank of Canada Stock Performance</h2><p>Shares of RY stock traded down $0.96 during trading hours on Tuesday, reaching $107.64. The company had a trading volume of 107,388 shares, compared to its average volume of 1,144,892. The business has a fifty day moving average price of $101.73 and a 200-day moving average price of $98.65. Royal Bank of Canada has a one year low of $77.90 and a one year high of $109.51. The firm has a market cap of $152.30 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. </p><h2>Royal Bank of Canada Increases Dividend</h2><ul><li>This Underrated Natural Gas Stock Could Rally Double-Digits Soon</li></ul><p>The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be paid a $1.03 dividend. The ex-dividend date is Thursday, July 25th. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.83%. Royal Bank of Canada's payout ratio is currently 50.62%. </p><h2>Royal Bank of Canada Profile</h2> (Free Report)<p>Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal &amp; 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.</p><h2>Featured Stories</h2><ul><li>Five stocks we like better than Royal Bank of Canada</li><li>3 Grocery Stocks That Are Proving They Are Still Essential </li><li>GitLab’s Weak Results Were Priced In; Time to Buy the Dip?</li><li>Canada Bond Market Holiday: How to Invest and Trade </li><li>Birkenstock Looks Like a Fit in Any Growth-Oriented Portfolio</li><li>3 Ways To Invest In Coffee, Other Than Drinking It</li><li>These Are the Most Active Congressional Trades This Quarter</li></ul><p><strong>Want to see what other hedge funds are holding RY?</strong> Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank of Canada (NYSE:RY - Free Report) <span>TSE: RY<span></span></span>.</p><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVJZ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVJZ"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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<p>The Manufacturers Life Insurance Company has reduced its stake in Royal Bank of Canada by 0.7% in the 4th quarter. The company now owns 9,751,388 shares of the financial services provider's stock. Other institutional investors and hedge funds have also modified their holdings of the company. Wall Street analysts have given the stock a moderate buy rating with a consensus price target of $137.67. Royal Bank of Canada's stock traded at $107.64 on Tuesday. The company has announced an increase in its quarterly dividend.</p>

The Manufacturers Life Insurance Company Reduces Holdings in Royal Bank of Canada (NYSE:RY)