Edmond DE Rothschild Holding S.A. acquired a new stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,454 shares of the financial services provider's stock, valued at approximately $416,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Royal Bank of Canada by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock valued at $7,136,056,000 after purchasing an additional 1,104,975 shares during the last quarter. Norges Bank purchased a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $2,425,519,000. Connor Clark & Lunn Investment Management Ltd. boosted its position 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 worth $1,338,156,000 after purchasing an additional 921,276 shares during the period. Geode Capital Management LLC increased its stake in shares of Royal Bank of Canada by 9.3% in 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 buying an additional 541,760 shares during the last quarter. Finally, GQG Partners LLC raised its stake in shares of Royal Bank of Canada by 0.9% during the fourth quarter. GQG Partners LLC now owns 5,796,767 shares of the financial services provider's stock valued at $698,579,000 after purchasing an additional 51,277 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.
Royal Bank of Canada Price Performance
NYSE:RY traded up $0.48 during trading hours on Thursday, reaching $115.20. 1,831,288 shares of the company's stock were exchanged, compared to its average volume of 1,059,997. The company has a market capitalization of $162.63 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05. The business's 50-day simple moving average is $116.83 and its two-hundred day simple moving average is $120.79. 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. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's payout ratio is 45.96%.
Analyst Ratings Changes
Several research firms have commented on RY. BMO Capital Markets lowered their target price on shares of 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. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Finally, CIBC reaffirmed a "neutral" rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $156.50.
Read Our Latest 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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