Royal Bank of Canada (NYSE:RY) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 31.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,382,278 shares of the financial services provider's stock after purchasing an additional 1,991,364 shares during the quarter. Geode Capital Management LLC owned approximately 0.59% of Royal Bank of Canada worth $1,027,061,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dunhill Financial LLC purchased a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $25,000. WealthTrak Capital Management LLC acquired a new stake in Royal Bank of Canada during the 4th quarter valued at $28,000. Roxbury Financial LLC purchased a new position in Royal Bank of Canada during the fourth quarter worth $29,000. Kieckhefer Group LLC acquired a new position in shares of Royal Bank of Canada in the fourth quarter worth $36,000. Finally, Crews Bank & Trust purchased a new stake in shares of Royal Bank of Canada in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank of Canada Trading Down 3.5 %

NYSE:RY traded down $3.98 during mid-day trading on Friday, reaching $111.13. The company's stock had a trading volume of 2,439,433 shares, compared to its average volume of 1,059,585. 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 stock has a market cap of $156.88 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.80 and a beta of 0.82. The company's fifty day simple moving average is $116.60 and its two-hundred day simple moving average is $120.71. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05.

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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. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.69%. Royal Bank of Canada's payout ratio is 45.96%.

Analyst Upgrades and Downgrades

RY has been the subject of a number of recent research reports. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. CIBC raised shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday. Finally, BMO Capital Markets cut their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating for the company in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently 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.