Rathbones Group PLC reduced its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,216 shares of the financial services provider's stock after selling 29,255 shares during the period. Rathbones Group PLC's holdings in Royal Bank of Canada were worth $30,274,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Royal Bank of Canada by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider's stock worth $427,589,000 after purchasing an additional 64,450 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Royal Bank of Canada in the fourth quarter valued at approximately $60,034,000. Wealth High Governance Capital Ltda bought a new position in Royal Bank of Canada during the fourth quarter worth $10,243,000. Jones Financial Companies Lllp increased its holdings in shares of Royal Bank of Canada by 1,322.0% during the 4th quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider's stock worth $483,000 after purchasing an additional 3,728 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Royal Bank of Canada by 9.3% during the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider's stock valued at $805,616,000 after buying an additional 541,760 shares during the last quarter. Institutional investors own 45.31% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. CIBC raised shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $156.50.
Get Our Latest Stock Report on Royal Bank of Canada
Royal Bank of Canada Trading Up 3.0 %
NYSE RY traded up $3.31 during trading on Friday, reaching $113.26. 1,186,653 shares of the stock traded hands, compared to its average volume of 1,094,252. The stock's 50-day moving average price is $115.13 and its 200 day moving average price is $120.13. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a market cap of $159.89 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. 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 company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 45.96%.
About Royal Bank of Canada
(
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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