Bridgewater Associates LP boosted its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 35.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 99,900 shares of the financial services provider's stock after purchasing an additional 25,875 shares during the period. Bridgewater Associates LP's holdings in Royal Bank of Canada were worth $12,039,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ontario Teachers Pension Plan Board grew its stake in Royal Bank of Canada by 78.4% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 4,946 shares of the financial services provider's stock worth $596,000 after purchasing an additional 2,174 shares in the last quarter. Guggenheim Capital LLC grew its position in shares of Royal Bank of Canada by 26.7% in the 4th quarter. Guggenheim Capital LLC now owns 2,687 shares of the financial services provider's stock worth $324,000 after acquiring an additional 566 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Royal Bank of Canada by 21.4% in the 4th quarter. XTX Topco Ltd now owns 14,038 shares of the financial services provider's stock valued at $1,692,000 after acquiring an additional 2,472 shares during the last quarter. Mariner LLC raised its position in shares of Royal Bank of Canada by 2.7% during the 4th quarter. Mariner LLC now owns 60,467 shares of the financial services provider's stock valued at $7,287,000 after acquiring an additional 1,599 shares in the last quarter. Finally, Savvy Advisors Inc. bought a new position in Royal Bank of Canada during the fourth quarter worth $315,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have weighed in on the stock. StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. CIBC upgraded shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. Finally, Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $156.50.
Get Our Latest Analysis on RY
Royal Bank of Canada Stock Performance
Shares of RY traded up $0.52 during trading hours on Friday, reaching $116.14. 1,090,937 shares of the company's stock traded hands, compared to its average volume of 1,105,706. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The business's fifty day simple moving average is $114.82 and its two-hundred day simple moving average is $119.84. 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 market capitalization of $163.95 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.80 and a beta of 0.82.
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 paid 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 3.53%. Royal Bank of Canada's payout ratio is 46.18%.
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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