Royal Bank of Canada (NYSE:RY) Shares Purchased by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC boosted its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 322,655 shares of the financial services provider's stock after acquiring an additional 2,291 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Royal Bank of Canada were worth $38,863,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RY. Norges Bank purchased a new position in Royal Bank of Canada in the fourth quarter valued at $2,425,519,000. Vanguard Group Inc. boosted its stake in shares of Royal Bank of Canada by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock valued at $7,136,056,000 after buying an additional 1,104,975 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Royal Bank of Canada by 9.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock worth $1,338,156,000 after buying an additional 921,276 shares in the last quarter. Mufg Securities Canada LTD. increased its stake in shares of Royal Bank of Canada by 72.0% during the fourth quarter. Mufg Securities Canada LTD. now owns 2,160,865 shares of the financial services provider's stock worth $260,373,000 after buying an additional 904,909 shares during the period. Finally, Hillsdale Investment Management Inc. raised its holdings in Royal Bank of Canada by 360.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 881,128 shares of the financial services provider's stock valued at $106,123,000 after acquiring an additional 689,904 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RY has been the topic of a number of analyst reports. CIBC restated a "neutral" rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. BMO Capital Markets cut their price target 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. Finally, StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

RY traded up $1.15 on Thursday, reaching $115.87. The company had a trading volume of 956,601 shares, compared to its average volume of 1,059,327. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05. The stock has a market capitalization of $163.57 billion, a PE ratio of 14.03, a P/E/G ratio of 1.80 and a beta of 0.88. The stock has a 50-day moving average price of $116.97 and a 200-day moving average price of $120.83.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.54%. Royal Bank of Canada's dividend payout ratio (DPR) is presently 45.96%.

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.