Generali Asset Management SPA SGR purchased a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 26,541 shares of the financial services provider's stock, valued at approximately $3,198,000.
A number of other large investors also recently bought and sold shares of RY. Thrivent Financial for Lutherans bought a new stake in shares of Royal Bank of Canada during the fourth quarter worth $214,000. PDS Planning Inc lifted its holdings in Royal Bank of Canada by 5.4% during the 4th quarter. PDS Planning Inc now owns 4,084 shares of the financial services provider's stock valued at $492,000 after buying an additional 209 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Royal Bank of Canada in the 4th quarter valued at about $70,429,000. Signaturefd LLC grew its stake in Royal Bank of Canada by 4.5% in the 4th quarter. Signaturefd LLC now owns 26,909 shares of the financial services provider's stock worth $3,243,000 after acquiring an additional 1,150 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Royal Bank of Canada by 4.3% in the fourth quarter. Parallel Advisors LLC now owns 6,681 shares of the financial services provider's stock worth $805,000 after purchasing an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on RY. StockNews.com raised shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. CIBC restated a "neutral" rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Finally, BMO Capital Markets cut 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. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of "Moderate Buy" and an average price target of $156.50.
Get Our Latest Research Report on Royal Bank of Canada
Royal Bank of Canada Price Performance
Royal Bank of Canada stock traded up $2.31 during midday trading on Monday, reaching $115.91. The company had a trading volume of 738,950 shares, compared to its average volume of 1,007,312. 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. The company has a market capitalization of $163.63 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.80 and a beta of 0.88. The firm's fifty day simple moving average is $117.86 and its 200-day simple moving average is $121.28.
Royal Bank of Canada Cuts Dividend
The company 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. This represents a $4.10 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 45.96%.
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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