Man Group plc Has $4.59 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Man Group plc increased its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 29.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,076 shares of the financial services provider's stock after buying an additional 8,646 shares during the period. Man Group plc's holdings in Royal Bank of Canada were worth $4,589,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RY. Vanguard Group Inc. boosted its stake in Royal Bank of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider's stock valued at $7,136,056,000 after purchasing an additional 1,104,975 shares during the last quarter. Norges Bank acquired a new position in Royal Bank of Canada during the 4th quarter valued at about $2,425,519,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Royal Bank of Canada by 9.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock valued at $1,338,156,000 after purchasing an additional 921,276 shares during the last quarter. Scotia Capital Inc. boosted its stake in Royal Bank of Canada by 1.9% during the 4th quarter. Scotia Capital Inc. now owns 8,891,023 shares of the financial services provider's stock valued at $1,071,536,000 after purchasing an additional 169,437 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Royal Bank of Canada by 31.2% during the 4th quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock valued at $1,027,061,000 after purchasing an additional 1,991,364 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $125.88 on Thursday. Royal Bank of Canada has a 52 week low of $102.44 and a 52 week high of $128.05. The company's 50 day moving average price is $116.95 and its two-hundred day moving average price is $119.46. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a market cap of $178.04 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.80 and a beta of 0.89.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.26%. Royal Bank of Canada's dividend payout ratio is currently 46.18%.

Analyst Ratings Changes

A number of equities analysts have issued reports on RY shares. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. CIBC raised shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research report on Friday, April 4th. Scotiabank began coverage on shares of Royal Bank of Canada in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Finally, Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $156.50.

Royal Bank of Canada 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.

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