LPL Financial LLC raised its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 16.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,608 shares of the financial services provider's stock after purchasing an additional 19,695 shares during the quarter. LPL Financial LLC's holdings in Royal Bank of Canada were worth $16,583,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RY. Financial Management Professionals Inc. grew its position in shares of Royal Bank of Canada by 26.8% in the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 90 shares during the last quarter. Ballentine Partners LLC boosted its stake in Royal Bank of Canada by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider's stock valued at $519,000 after purchasing an additional 94 shares during the period. Richardson Financial Services Inc. grew its holdings in Royal Bank of Canada by 45.7% in the 4th quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider's stock valued at $37,000 after buying an additional 96 shares in the last quarter. DAVENPORT & Co LLC increased its position in Royal Bank of Canada by 0.8% during the 4th quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider's stock worth $1,502,000 after buying an additional 101 shares during the period. Finally, CENTRAL TRUST Co lifted its holdings in shares of Royal Bank of Canada by 5.3% during the fourth quarter. CENTRAL TRUST Co now owns 2,270 shares of the financial services provider's stock worth $274,000 after buying an additional 115 shares in the last quarter. 45.31% of the stock is owned by institutional investors.
Royal Bank of Canada Price Performance
Royal Bank of Canada stock traded up $0.48 during trading hours on Thursday, reaching $115.20. 1,831,288 shares of the stock were exchanged, compared to its average volume of 1,059,997. 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 has a twelve month low of $95.84 and a twelve month high of $128.05. The company has a market cap 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. The stock has a 50 day moving average of $116.97 and a two-hundred day moving average of $120.83.
Royal Bank of Canada Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given 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 is 45.96%.
Analyst Ratings Changes
Several equities analysts recently commented on RY shares. StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. 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 report 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 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $156.50.
View Our Latest Analysis on Royal Bank of Canada
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.
Featured Articles
Before you consider Royal Bank of Canada, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Royal Bank of Canada wasn't on the list.
While Royal Bank of Canada currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
