William Blair Investment Management LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 584,867 shares of the financial services provider's stock, valued at approximately $70,429,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its holdings in Royal Bank of Canada by 4.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,508 shares of the financial services provider's stock worth $313,000 after buying an additional 115 shares during the last quarter. Coastline Trust Co purchased a new stake in shares of Royal Bank of Canada during the third quarter worth approximately $41,000. Natixis Advisors LLC raised its stake in Royal Bank of Canada by 3.9% in the 3rd quarter. Natixis Advisors LLC now owns 122,223 shares of the financial services provider's stock valued at $15,245,000 after purchasing an additional 4,615 shares during the last quarter. Prudent Man Advisors LLC purchased a new position in Royal Bank of Canada in the 3rd quarter valued at $220,000. Finally, Drive Wealth Management LLC boosted its stake in Royal Bank of Canada by 3.4% during the 3rd 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. Hedge funds and other institutional investors own 45.31% of the company's stock.
Royal Bank of Canada Trading Down 0.1 %
Shares of Royal Bank of Canada stock traded down $0.11 during mid-day trading on Friday, hitting $113.71. The stock had a trading volume of 758,358 shares, compared to its average volume of 1,240,402. The firm has a 50-day moving average of $117.95 and a two-hundred day moving average of $121.33. The firm has a market cap of $160.52 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05.
Royal Bank of Canada Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.61%. Royal Bank of Canada's dividend payout ratio (DPR) is currently 45.96%.
Analyst Ratings Changes
RY has been the topic of several research reports. Barclays raised shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research note on Thursday, November 21st. CIBC reissued a "neutral" rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. BMO Capital Markets dropped their price target 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. Finally, StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada currently has an average rating of "Moderate Buy" and an average target price of $156.50.
Read 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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