Twinbeech Capital LP Acquires Shares of 4,211 Royal Bank of Canada (NYSE:RY)

Twinbeech Capital LP bought a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,211 shares of the financial services provider's stock, valued at approximately $507,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in Royal Bank of Canada by 1.9% in the 4th 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 buying an additional 64,450 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at $60,034,000. Wealth High Governance Capital Ltda acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at $10,243,000. Jones Financial Companies Lllp boosted its stake in shares of Royal Bank of Canada by 1,322.0% in the 4th quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider's stock valued at $483,000 after purchasing an additional 3,728 shares in the last quarter. Finally, APG Asset Management N.V. boosted its stake in shares of Royal Bank of Canada by 1,600.9% in the 4th quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider's stock valued at $166,084,000 after purchasing an additional 1,343,174 shares in the last quarter. Institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Price Performance

NYSE:RY traded up $0.26 during mid-day trading on Wednesday, reaching $129.12. 211,895 shares of the company were exchanged, compared to its average volume of 1,125,155. Royal Bank of Canada has a 12 month low of $102.44 and a 12 month high of $130.11. The company has a fifty day moving average of $118.11 and a 200 day moving average of $119.56. 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 $182.62 billion, a PE ratio of 15.63, a PEG ratio of 1.80 and a beta of 0.89.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th were issued a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is currently 46.18%.

Analyst Ratings Changes

Several equities research analysts have recently commented on RY shares. CIBC restated an "outperform" rating on shares of Royal Bank of Canada in a research note on Tuesday, May 20th. Scotiabank started coverage on shares of Royal Bank of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating on the stock. 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. Finally, Wall Street Zen upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.