SVB Wealth LLC purchased a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,295 shares of the financial services provider's stock, valued at approximately $277,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Balentine LLC acquired a new stake in shares of Royal Bank of Canada during the 3rd quarter worth about $677,000. Capital Performance Advisors LLP purchased a new stake in shares of Royal Bank of Canada in the third quarter valued at approximately $25,000. Fiera Capital Corp boosted its stake in shares of Royal Bank of Canada by 3.7% in the third quarter. Fiera Capital Corp now owns 4,759,385 shares of the financial services provider's stock valued at $594,791,000 after buying an additional 171,125 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Royal Bank of Canada by 274.5% in the third quarter. Assetmark Inc. now owns 3,775 shares of the financial services provider's stock valued at $471,000 after buying an additional 2,767 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in shares of Royal Bank of Canada by 5.5% in the third quarter. Lindbrook Capital LLC now owns 2,090 shares of the financial services provider's stock valued at $261,000 after buying an additional 109 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have commented on RY. TD Securities downgraded Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Barclays upgraded Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research report on Thursday, November 21st. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, 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 research report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $156.50.
Check Out Our Latest Stock Report on RY
Royal Bank of Canada Price Performance
Shares of NYSE RY traded up $0.83 during trading on Friday, reaching $115.07. The company had a trading volume of 789,246 shares, compared to its average volume of 1,275,468. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The stock has a market capitalization of $162.74 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The stock has a 50-day moving average price of $119.55 and a two-hundred day moving average price of $121.65. 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 Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.56%. Royal Bank of Canada's dividend payout ratio (DPR) is 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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