Focus Partners Wealth increased its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 516.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 217,073 shares of the financial services provider's stock after buying an additional 181,847 shares during the quarter. Focus Partners Wealth's holdings in Royal Bank of Canada were worth $26,849,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Ethic Inc. acquired a new stake in shares of Royal Bank of Canada in the fourth quarter valued at about $544,000. Ewing Morris & Co. Investment Partners Ltd. acquired a new stake in shares of Royal Bank of Canada in the fourth quarter valued at about $3,844,000. Clark Capital Management Group Inc. grew its stake in shares of Royal Bank of Canada by 1.5% in the fourth quarter. Clark Capital Management Group Inc. now owns 561,637 shares of the financial services provider's stock valued at $67,683,000 after buying an additional 8,435 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Royal Bank of Canada by 10.5% in the fourth quarter. Deutsche Bank AG now owns 1,650,842 shares of the financial services provider's stock valued at $198,943,000 after buying an additional 157,031 shares in the last quarter. Finally, Colonial Trust Co SC grew its stake in shares of Royal Bank of Canada by 27.3% in the fourth quarter. Colonial Trust Co SC now owns 4,492 shares of the financial services provider's stock valued at $541,000 after buying an additional 963 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.
Royal Bank of Canada Price Performance
Shares of NYSE RY opened at $120.09 on Monday. Royal Bank of Canada has a fifty-two week low of $102.44 and a fifty-two week high of $128.05. The business has a 50 day moving average price of $115.04 and a two-hundred day moving average price of $119.33. 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 firm has a market cap of $169.53 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89.
Royal Bank of Canada Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.41%. Royal Bank of Canada's dividend payout ratio (DPR) is presently 46.18%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on RY. CIBC upgraded Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday. 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $156.50.
View Our Latest Stock Analysis on Royal Bank of Canada
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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