Wells Fargo & Company MN Increases Holdings in Royal Bank of Canada (NYSE:RY)

Wells Fargo & Company MN lifted its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 14.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 219,679 shares of the financial services provider's stock after acquiring an additional 26,905 shares during the quarter. Wells Fargo & Company MN's holdings in Royal Bank of Canada were worth $26,473,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Royal Bank of Canada by 38.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,276 shares of the financial services provider's stock worth $159,000 after buying an additional 356 shares during the period. EP Wealth Advisors LLC lifted its holdings in shares of Royal Bank of Canada by 7.5% in the third quarter. EP Wealth Advisors LLC now owns 2,908 shares of the financial services provider's stock valued at $363,000 after purchasing an additional 203 shares in the last quarter. Barclays PLC grew its holdings 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 buying an additional 268 shares in the last quarter. Te Ahumairangi Investment Management Ltd raised its position in Royal Bank of Canada by 1.4% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 35,540 shares of the financial services provider's stock valued at $4,416,000 after buying an additional 500 shares during the last quarter. Finally, Fulcrum Equity Management acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at approximately $216,000. 45.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RY shares. 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. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, CIBC upgraded shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $156.50.

Royal Bank of Canada Stock Up 0.4 %

Shares of NYSE RY traded up $0.50 during trading on Thursday, hitting $116.12. 160,070 shares of the company traded hands, compared to its average volume of 1,098,407. The business's fifty day moving average is $114.90 and its 200 day moving average is $119.97. The firm has a market capitalization of $163.92 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.80 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is currently 46.18%.

About Royal Bank of Canada

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.