Alliancebernstein L.P. Boosts Stake in Royal Bank of Canada (NYSE:RY)

Alliancebernstein L.P. boosted its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 881,634 shares of the financial services provider's stock after buying an additional 7,190 shares during the quarter. Alliancebernstein L.P. owned approximately 0.06% of Royal Bank of Canada worth $106,246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. acquired a new position in Royal Bank of Canada in the fourth quarter valued at $416,000. O Shaughnessy Asset Management LLC grew its stake in Royal Bank of Canada by 0.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 322,655 shares of the financial services provider's stock worth $38,863,000 after purchasing an additional 2,291 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Royal Bank of Canada by 144.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 16,295 shares of the financial services provider's stock worth $1,982,000 after buying an additional 9,627 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in Royal Bank of Canada during the fourth quarter worth $28,000. Finally, Brown Brothers Harriman & Co. grew its stake in Royal Bank of Canada by 6.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 18,436 shares of the financial services provider's stock valued at $2,222,000 after acquiring an additional 1,160 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock traded down $2.69 during trading hours on Monday, hitting $108.22. 684,766 shares of the company's stock traded hands, compared to its average volume of 1,059,326. The stock has a market capitalization of $152.78 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. 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 company has a fifty day simple moving average of $116.60 and a 200-day simple moving average of $120.68.

Royal Bank of Canada Cuts Dividend

The business 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. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is currently 45.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday. Finally, Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday. 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 stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $156.50.

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.