Franklin Resources Inc. Increases Stake in Royal Bank of Canada (NYSE:RY)

Franklin Resources Inc. increased its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,729,059 shares of the financial services provider's stock after buying an additional 54,293 shares during the quarter. Franklin Resources Inc. owned 0.19% of Royal Bank of Canada worth $328,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of RY. Dunhill Financial LLC purchased a new position in shares of Royal Bank of Canada during the third quarter worth approximately $25,000. Roxbury Financial LLC bought a new position in shares of Royal Bank of Canada during the 4th quarter valued at $29,000. WealthTrak Capital Management LLC purchased a new position in Royal Bank of Canada in the 4th quarter worth $28,000. Jackson Grant Investment Advisers Inc. bought a new stake in Royal Bank of Canada in the fourth quarter worth $36,000. Finally, Kieckhefer Group LLC purchased a new stake in Royal Bank of Canada during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Analyst Ratings Changes

RY has been the topic of several analyst reports. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. BMO Capital Markets decreased their price target 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, CIBC reiterated a "neutral" rating on shares of Royal Bank of Canada in a research report 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $156.50.

Remove Ads

Royal Bank of Canada Trading Up 0.4 %

NYSE:RY traded up $0.48 during mid-day trading on Thursday, reaching $115.20. 1,831,288 shares of the company's stock traded hands, compared to its average volume of 1,062,701. The company has a 50 day moving average price of $116.97 and a 200-day moving average price of $120.83. The firm has a market capitalization of $162.63 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders 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 dividend yield of 3.56%. Royal Bank of Canada's dividend payout ratio (DPR) is presently 45.96%.

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.