Clark Capital Management Group Inc. Has $67.68 Million Position in Royal Bank of Canada (NYSE:RY)

Clark Capital Management Group Inc. grew its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 561,637 shares of the financial services provider's stock after purchasing an additional 8,435 shares during the period. Clark Capital Management Group Inc.'s holdings in Royal Bank of Canada were worth $67,683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its position in shares of Royal Bank of Canada by 3.1% during the third quarter. Barclays PLC now owns 8,831 shares of the financial services provider's stock worth $1,101,000 after purchasing an additional 268 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Royal Bank of Canada in the third quarter worth $167,000. Wealth Enhancement Advisory Services LLC raised its holdings in Royal Bank of Canada by 0.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 31,103 shares of the financial services provider's stock valued at $3,879,000 after acquiring an additional 254 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its stake in Royal Bank of Canada by 13.0% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 16,030 shares of the financial services provider's stock valued at $1,932,000 after acquiring an additional 1,850 shares during the last quarter. Finally, Aprio Wealth Management LLC lifted its position in shares of Royal Bank of Canada by 10.9% during the fourth quarter. Aprio Wealth Management LLC now owns 9,345 shares of the financial services provider's stock worth $1,126,000 after purchasing an additional 915 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

Shares of NYSE RY traded up $0.26 during midday trading on Friday, reaching $120.09. The company's stock had a trading volume of 1,540,197 shares, compared to its average volume of 1,098,962. The company has a market cap of $169.53 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89. Royal Bank of Canada has a one year low of $102.44 and a one year high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average price of $115.04 and a 200 day moving average price of $119.35.

Royal Bank of Canada Cuts Dividend

The business also recently announced 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. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's payout ratio is 46.18%.

Wall Street Analyst Weigh In

A number of research firms have commented on RY. CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Cibc World Mkts upgraded shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Royal Bank of Canada currently has an average rating of "Buy" and an average target price of $156.50.

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.