Marshall Wace LLP Raises Position in Royal Bank of Canada (NYSE:RY)

Marshall Wace LLP grew its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 397.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 416,409 shares of the financial services provider's stock after buying an additional 332,779 shares during the period. Marshall Wace LLP's holdings in Royal Bank of Canada were worth $50,181,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ruggaard & Associates LLC raised its stake in Royal Bank of Canada by 1.8% in 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 during the last quarter. Financial Management Professionals Inc. grew its stake in Royal Bank of Canada by 26.8% in the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 90 shares during the period. Ballentine Partners LLC increased its stake in shares of Royal Bank of Canada by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider's stock worth $519,000 after purchasing an additional 94 shares in the last quarter. Richardson Financial Services Inc. increased its stake in Royal Bank of Canada by 45.7% during the 4th quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider's stock worth $37,000 after buying an additional 96 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its position in shares of Royal Bank of Canada by 0.8% in the fourth quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider's stock valued at $1,502,000 after acquiring an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Price Performance

NYSE RY traded up $0.31 during trading hours on Wednesday, reaching $118.28. The company's stock had a trading volume of 382,767 shares, compared to its average volume of 1,110,089. The stock has a market cap of $166.97 billion, a PE ratio of 14.32, a PEG ratio of 1.80 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The company's 50-day moving average is $114.73 and its two-hundred day moving average is $119.76. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed 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 is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.47%. Royal Bank of Canada's dividend payout ratio is presently 46.18%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RY shares. CIBC raised shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $156.50.

Royal Bank of Canada Profile

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.