Skandinaviska Enskilda Banken AB publ raised its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 189,391 shares of the financial services provider's stock after acquiring an additional 3,300 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Royal Bank of Canada were worth $22,824,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Financial Management Professionals Inc. grew its position in Royal Bank of Canada by 26.8% in the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 90 shares during the period. Drive Wealth Management LLC grew its holdings in shares of Royal Bank of Canada by 3.4% during the third quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider's stock worth $349,000 after purchasing an additional 92 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Royal Bank of Canada by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider's stock worth $519,000 after purchasing an additional 94 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Royal Bank of Canada by 45.7% during the fourth quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider's stock worth $37,000 after purchasing an additional 96 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in shares of Royal Bank of Canada by 0.8% during the fourth quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider's stock worth $1,502,000 after purchasing an additional 101 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.
Royal Bank of Canada Trading Down 0.2 %
Shares of RY traded down $0.27 during trading hours on Tuesday, hitting $112.45. 692,436 shares of the stock traded hands, compared to its average volume of 1,002,661. 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 1-year low of $95.84 and a 1-year high of $128.05. The firm has a market capitalization of $158.74 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The business has a fifty day moving average of $118.44 and a 200-day moving average of $121.49.
Royal Bank of Canada Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders 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 dividend yield of 3.65%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 45.96%.
Wall Street Analyst Weigh In
RY has been the topic of several research analyst reports. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Barclays upgraded Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a report on Thursday, November 21st. BMO Capital Markets decreased their target price on Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. Finally, CIBC restated a "neutral" rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. 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.com, Royal Bank of Canada has a consensus rating of "Moderate Buy" and an average price target of $156.50.
Check Out Our Latest Analysis on RY
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
Before you consider Royal Bank of Canada, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Royal Bank of Canada wasn't on the list.
While Royal Bank of Canada currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
