Fiera Capital Corp trimmed its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,633,210 shares of the financial services provider's stock after selling 126,175 shares during the period. Royal Bank of Canada accounts for approximately 1.8% of Fiera Capital Corp's holdings, making the stock its 15th largest position. Fiera Capital Corp owned about 0.33% of Royal Bank of Canada worth $558,046,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its stake in Royal Bank of Canada by 75.8% in the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider's stock worth $2,229,834,000 after buying an additional 7,702,585 shares in the last quarter. CIBC Asset Management Inc increased its stake in Royal Bank of Canada by 0.9% in the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider's stock worth $1,706,833,000 after buying an additional 124,348 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 worth $805,616,000 after buying an additional 541,760 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Royal Bank of Canada by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,483,591 shares of the financial services provider's stock worth $435,253,000 after buying an additional 122,311 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Royal Bank of Canada by 165.1% in 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 buying an additional 1,804,022 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
RY has been the subject of a number of research analyst reports. StockNews.com lowered Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Wednesday, January 1st. BMO Capital Markets cut their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating for the company in a research report on Thursday, December 5th. TD Securities lowered Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Finally, Barclays upgraded Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $156.50.
Check Out Our Latest Analysis on Royal Bank of Canada
Royal Bank of Canada Stock Down 0.2 %
NYSE:RY traded down $0.27 during trading hours on Friday, reaching $119.04. The company's stock had a trading volume of 1,492,766 shares, compared to its average volume of 1,313,395. The company has a market capitalization of $168.37 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05. 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 stock has a 50 day moving average price of $121.06 and a two-hundred day moving average price of $120.80.
Royal Bank of Canada Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be paid a $1.0522 dividend. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a yield of 3.54%. Royal Bank of Canada's payout ratio is 49.76%.
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.
Further Reading
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