Boomfish Wealth Group LLC Has $499,000 Stock Position in Royal Bank of Canada (NYSE:RY)

Boomfish Wealth Group LLC reduced its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 64.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,144 shares of the financial services provider’s stock after selling 7,554 shares during the period. Boomfish Wealth Group LLC’s holdings in Royal Bank of Canada were worth $499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its position in Royal Bank of Canada by 75.8% during the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after buying an additional 7,702,585 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Royal Bank of Canada by 0.9% in the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after acquiring an additional 124,348 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Royal Bank of Canada by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock worth $805,616,000 after purchasing an additional 541,760 shares during the last quarter. Fiera Capital Corp boosted its position in Royal Bank of Canada by 3.7% during the third quarter. Fiera Capital Corp now owns 4,759,385 shares of the financial services provider’s stock worth $594,791,000 after purchasing an additional 171,125 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Royal Bank of Canada by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,483,591 shares of the financial services provider’s stock valued at $435,253,000 after purchasing an additional 122,311 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Performance

RY opened at $123.36 on Friday. The stock’s 50 day simple moving average is $122.47 and its 200-day simple moving average is $120.08. 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 stock has a market cap of $174.47 billion, a PE ratio of 14.93, a P/E/G ratio of 1.82 and a beta of 0.87. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.41%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.76%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RY shares. BMO Capital Markets dropped their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate 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.