Te Ahumairangi Investment Management Ltd lowered its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,940 shares of the financial services provider's stock after selling 4,600 shares during the quarter. Te Ahumairangi Investment Management Ltd's holdings in Royal Bank of Canada were worth $3,729,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in Royal Bank of Canada by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider's stock valued at $427,589,000 after purchasing an additional 64,450 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Royal Bank of Canada in the 4th quarter valued at about $60,034,000. Wealth High Governance Capital Ltda purchased a new position in shares of Royal Bank of Canada in the 4th quarter worth approximately $10,243,000. Jones Financial Companies Lllp lifted its position in Royal Bank of Canada by 1,322.0% during the fourth quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider's stock valued at $483,000 after acquiring an additional 3,728 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in 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 acquiring an additional 541,760 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.
Royal Bank of Canada Stock Performance
Shares of NYSE RY traded up $0.48 during mid-day trading on Thursday, hitting $115.20. The stock had a trading volume of 1,831,288 shares, compared to its average volume of 1,059,997. The firm has a market cap of $162.63 billion, a PE ratio of 13.95, a PEG ratio of 1.80 and a beta of 0.88. 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 company has a 50 day moving average of $116.83 and a two-hundred day moving average of $120.79. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month 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. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is presently 45.96%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. BMO Capital Markets reduced their price target 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. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, CIBC reissued 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $156.50.
Check Out Our Latest Stock 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.
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