Russell Investments Group Ltd. decreased its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 9.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 835,392 shares of the financial services provider's stock after selling 86,271 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Royal Bank of Canada worth $100,657,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wedbush Securities Inc. increased its holdings in Royal Bank of Canada by 9.2% in the 4th quarter. Wedbush Securities Inc. now owns 9,546 shares of the financial services provider's stock valued at $1,150,000 after purchasing an additional 807 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Royal Bank of Canada by 2.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 338,009 shares of the financial services provider's stock worth $40,733,000 after buying an additional 7,296 shares during the period. Aviva PLC grew its stake in shares of Royal Bank of Canada by 14.9% in the fourth quarter. Aviva PLC now owns 852,311 shares of the financial services provider's stock valued at $102,560,000 after buying an additional 110,754 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Royal Bank of Canada by 81.9% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 26,720 shares of the financial services provider's stock valued at $3,220,000 after buying an additional 12,034 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Royal Bank of Canada by 14.0% during the 4th quarter. Wells Fargo & Company MN now owns 219,679 shares of the financial services provider's stock worth $26,473,000 after acquiring an additional 26,905 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.
Royal Bank of Canada Stock Up 2.4 %
Shares of RY traded up $2.65 during midday trading on Friday, hitting $112.60. The company had a trading volume of 496,347 shares, compared to its average volume of 1,090,565. The stock has a market cap of $158.96 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.80 and a beta of 0.82. The company's 50 day moving average price is $115.24 and its 200 day moving average price is $120.20. 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 52 week low of $95.84 and a 52 week high of $128.05.
Royal Bank of Canada Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's payout ratio is currently 45.96%.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. 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. 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. Finally, Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $156.50.
View Our Latest Research Report on RY
Royal Bank of Canada 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.
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