Invesco Ltd. increased its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,789,560 shares of the financial services provider's stock after acquiring an additional 172,829 shares during the period. Invesco Ltd. owned approximately 0.27% of Royal Bank of Canada worth $456,680,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ruggaard & Associates LLC grew its holdings in Royal Bank of Canada by 1.8% during the 4th quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider's stock worth $565,000 after acquiring an additional 85 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co grew its stake in shares of Royal Bank of Canada by 40.4% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 118,249 shares of the financial services provider's stock worth $14,244,000 after purchasing an additional 34,000 shares in the last quarter. Wedbush Securities Inc. increased its holdings in Royal Bank of Canada by 9.2% in the fourth quarter. Wedbush Securities Inc. now owns 9,546 shares of the financial services provider's stock valued at $1,150,000 after buying an additional 807 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Royal Bank of Canada by 2.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 338,009 shares of the financial services provider's stock worth $40,733,000 after buying an additional 7,296 shares during the last quarter. Finally, Aviva PLC boosted its position in shares of Royal Bank of Canada by 14.9% during the 4th quarter. Aviva PLC now owns 852,311 shares of the financial services provider's stock worth $102,560,000 after acquiring an additional 110,754 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.
Royal Bank of Canada Stock Performance
Shares of Royal Bank of Canada stock traded up $1.00 during trading on Monday, reaching $114.27. The company's stock had a trading volume of 346,203 shares, compared to its average volume of 1,092,404. The company has a 50-day moving average price of $115.13 and a two-hundred day moving average price of $120.10. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The firm has a market cap of $161.31 billion, a PE ratio of 13.83, a P/E/G ratio of 1.80 and a beta of 0.82. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.
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 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 dividend yield of 3.59%. Royal Bank of Canada's payout ratio is 46.18%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on RY. StockNews.com raised 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 report on Friday, April 4th. Finally, Cibc World Mkts upgraded shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $156.50.
Check Out Our Latest Stock Report on RY
Royal Bank of Canada Company Profile
(
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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