Vanguard Group Inc. Has $7.14 Billion Stock Position in Royal Bank of Canada (NYSE:RY)

Vanguard Group Inc. raised its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,183,549 shares of the financial services provider's stock after acquiring an additional 1,104,975 shares during the quarter. Vanguard Group Inc. owned about 4.18% of Royal Bank of Canada worth $7,136,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Financial Management Professionals Inc. boosted its stake in shares of Royal Bank of Canada by 26.8% in the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 90 shares during the last quarter. Ballentine Partners LLC boosted its stake in Royal Bank of Canada by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider's stock valued at $519,000 after acquiring an additional 94 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in Royal Bank of Canada by 45.7% during the 4th quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider's stock worth $37,000 after acquiring an additional 96 shares during the period. DAVENPORT & Co LLC raised its position in shares of Royal Bank of Canada by 0.8% during the 4th quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider's stock valued at $1,502,000 after acquiring an additional 101 shares during the last quarter. Finally, CENTRAL TRUST Co lifted its stake in shares of Royal Bank of Canada by 5.3% in the 4th quarter. CENTRAL TRUST Co now owns 2,270 shares of the financial services provider's stock valued at $274,000 after purchasing an additional 115 shares during the period. 45.31% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of equities research analysts recently commented on RY shares. CIBC reiterated a "neutral" rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. BMO Capital Markets reduced their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. Finally, StockNews.com raised shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Three investment 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.com, the company has an average rating of "Moderate Buy" and an average target price of $156.50.

Royal Bank of Canada Stock Down 1.6 %

NYSE RY traded down $1.83 on Thursday, reaching $114.44. The company had a trading volume of 259,163 shares, compared to its average volume of 979,452. The company's fifty day moving average is $117.70 and its 200-day moving average is $121.17. The firm has a market capitalization of $161.55 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth 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. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is presently 45.96%.

Royal Bank of Canada Company Profile

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.