Aviso Financial Inc. lifted its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 210,389 shares of the financial services provider's stock after purchasing an additional 7,629 shares during the quarter. Royal Bank of Canada comprises 1.3% of Aviso Financial Inc.'s portfolio, making the stock its 24th largest position. Aviso Financial Inc.'s holdings in Royal Bank of Canada were worth $25,361,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in the stock. FMR LLC raised its holdings in shares of Royal Bank of Canada by 75.8% during the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider's stock valued at $2,229,834,000 after buying an additional 7,702,585 shares during the last quarter. CIBC Asset Management Inc increased its position 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 acquiring an additional 124,348 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Royal Bank of Canada by 9.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock valued at $1,338,156,000 after acquiring an additional 921,276 shares in the last quarter. Geode Capital Management LLC boosted its position in Royal Bank of Canada by 9.3% during the 3rd 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 during the period. Finally, Alberta Investment Management Corp grew its stake in shares of Royal Bank of Canada by 0.4% in the fourth quarter. Alberta Investment Management Corp now owns 3,583,817 shares of the financial services provider's stock worth $431,892,000 after purchasing an additional 15,300 shares in the last quarter. Institutional investors own 45.31% of the company's stock.
Royal Bank of Canada Price Performance
Royal Bank of Canada stock traded down $0.27 during mid-day trading on Tuesday, hitting $112.45. The company's stock had a trading volume of 692,436 shares, compared to its average volume of 1,002,661. The stock has a market capitalization of $158.74 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The stock's fifty day moving average price is $118.44 and its two-hundred day moving average price is $121.49. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.
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 3.65%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 45.96%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on RY shares. 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 report on Thursday, December 5th. CIBC reiterated a "neutral" rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Barclays raised Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a report on Thursday, November 21st. Finally, StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $156.50.
Get Our Latest Stock Analysis on Royal Bank of Canada
About Royal Bank of Canada
(
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.
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