one8zero8 LLC Takes $4.38 Million Position in Royal Bank of Canada (NYSE:RY)

one8zero8 LLC bought a new stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,335 shares of the financial services provider's stock, valued at approximately $4,379,000. Royal Bank of Canada makes up approximately 0.9% of one8zero8 LLC's holdings, making the stock its 21st biggest holding.

Other institutional investors have also made changes to their positions in the company. FMR LLC lifted its stake in shares of Royal Bank of Canada by 75.8% during the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider's stock valued at $2,229,834,000 after acquiring an additional 7,702,585 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Royal Bank of Canada by 165.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider's stock worth $361,532,000 after purchasing an additional 1,804,022 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Royal Bank of Canada by 9.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock valued at $1,338,156,000 after purchasing an additional 921,276 shares during the period. Geode Capital Management LLC boosted its stake in shares of Royal Bank of Canada by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider's stock valued at $805,616,000 after purchasing an additional 541,760 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Royal Bank of Canada during the 4th quarter worth approximately $60,034,000. 45.31% of the stock is owned by institutional investors.

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Royal Bank of Canada Trading Down 0.3 %

Shares of RY stock traded down $0.38 on Thursday, hitting $113.84. The stock had a trading volume of 609,636 shares, compared to its average volume of 1,004,314. 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 fifty day moving average price of $118.11 and a two-hundred day moving average price of $121.38. The firm has a market cap of $160.70 billion, a P/E ratio of 13.78, a PEG ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders 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 annualized dividend and a dividend yield of 3.60%. Royal Bank of Canada's dividend payout ratio (DPR) is currently 45.96%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. CIBC restated a "neutral" rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Barclays raised Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research note on Thursday, November 21st. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, BMO Capital Markets cut their target price 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. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.