Charles Schwab Investment Management Inc. Grows Stake in Royal Bank of Canada (NYSE:RY)

Charles Schwab Investment Management Inc. boosted its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,548,041 shares of the financial services provider's stock after buying an additional 64,450 shares during the period. Charles Schwab Investment Management Inc. owned 0.25% of Royal Bank of Canada worth $427,589,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $25,000. Dunhill Financial LLC acquired a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $25,000. Larson Financial Group LLC acquired a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $26,000. Roxbury Financial LLC acquired a new position in shares of Royal Bank of Canada in the 4th quarter valued at $29,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Royal Bank of Canada in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank of Canada Stock Up 0.7 %

NYSE RY traded up $0.83 during trading hours on Friday, hitting $115.07. 789,246 shares of the company were exchanged, compared to its average volume of 1,275,468. The company has a 50 day moving average of $119.55 and a two-hundred day moving average of $121.59. 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 has a 52-week low of $95.84 and a 52-week high of $128.05. The firm has a market cap of $162.74 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.80 and a beta of 0.88.

Remove Ads

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.56%. Royal Bank of Canada's dividend payout ratio (DPR) is 45.96%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RY shares. TD Securities lowered Royal Bank of Canada from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. BMO Capital Markets decreased their target price on Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. Finally, Barclays raised Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $156.50.

About Royal Bank of Canada

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.