Royal Bank of Canada (NYSE:RY) Shares Acquired by GQG Partners LLC

GQG Partners LLC boosted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,796,767 shares of the financial services provider’s stock after buying an additional 51,277 shares during the quarter. GQG Partners LLC owned approximately 0.41% of Royal Bank of Canada worth $698,579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in shares of Royal Bank of Canada by 14.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,743 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 461 shares in the last quarter. King Luther Capital Management Corp bought a new stake in Royal Bank of Canada during the third quarter valued at $255,000. Citigroup Inc. raised its holdings in shares of Royal Bank of Canada by 14.8% during the third quarter. Citigroup Inc. now owns 311,146 shares of the financial services provider’s stock worth $38,877,000 after purchasing an additional 40,178 shares during the period. Nwam LLC bought a new position in shares of Royal Bank of Canada in the 3rd quarter worth about $354,000. Finally, Cerity Partners LLC boosted its holdings in shares of Royal Bank of Canada by 24.6% in the 3rd quarter. Cerity Partners LLC now owns 43,487 shares of the financial services provider’s stock valued at $5,424,000 after buying an additional 8,576 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Finally, BMO Capital Markets lowered their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Up 2.0 %

RY opened at $115.91 on Tuesday. The stock’s 50 day moving average price is $117.80 and its 200 day moving average price is $121.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $163.63 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 annualized dividend and a yield of 3.54%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s payout ratio is currently 45.96%.

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.