Altrius Capital Management Inc lessened its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 12.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,334 shares of the financial services provider's stock after selling 8,977 shares during the quarter. Royal Bank of Canada makes up approximately 2.1% of Altrius Capital Management Inc's portfolio, making the stock its 7th biggest holding. Altrius Capital Management Inc's holdings in Royal Bank of Canada were worth $7,753,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in shares of Royal Bank of Canada by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider's stock worth $10,483,000 after purchasing an additional 4,980 shares in the last quarter. CIBC Asset Management Inc grew its stake in Royal Bank of Canada by 0.9% in the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider's stock valued at $1,706,833,000 after buying an additional 124,348 shares in the last quarter. Algert Global LLC bought a new stake in Royal Bank of Canada during the 3rd quarter valued at $706,000. Bridgewater Associates LP raised its holdings in Royal Bank of Canada by 150.7% during the 3rd quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider's stock valued at $9,249,000 after acquiring an additional 44,494 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Royal Bank of Canada by 9.3% during the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider's stock worth $805,616,000 after acquiring an additional 541,760 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on RY. TD Securities cut Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Barclays raised Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a report on Thursday, November 21st. StockNews.com raised shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday. Finally, BMO Capital Markets reduced their price objective 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. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $156.50.
Check Out Our Latest Research Report on Royal Bank of Canada
Royal Bank of Canada Price Performance
Royal Bank of Canada stock traded down $4.11 during midday trading on Tuesday, hitting $112.74. 1,294,040 shares of the company's stock were exchanged, compared to its average volume of 1,270,983. The stock has a 50-day moving average price of $120.07 and a two-hundred day moving average price of $121.66. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05. The company has a market cap of $159.45 billion, a P/E ratio of 13.65, a PEG ratio of 1.80 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86.
Royal Bank of Canada Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.64%. Royal Bank of Canada's payout ratio is presently 45.73%.
Royal Bank of Canada Company Profile
(
Free Report)
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.
See Also
Before you consider Royal Bank of Canada, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Royal Bank of Canada wasn't on the list.
While Royal Bank of Canada currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
