Royal Bank of Canada (NYSE:RY) Shares Purchased by Candriam S.C.A.

Candriam S.C.A. increased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,803 shares of the financial services provider’s stock after purchasing an additional 3,517 shares during the quarter. Candriam S.C.A.’s holdings in Royal Bank of Canada were worth $5,520,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth $60,034,000. Proficio Capital Partners LLC purchased a new position in Royal Bank of Canada in the fourth quarter worth $5,882,000. Atria Investments Inc raised its position in Royal Bank of Canada by 7.6% in the fourth quarter. Atria Investments Inc now owns 1,918 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 136 shares in the last quarter. Assetmark Inc. raised its position in Royal Bank of Canada by 7.3% in the fourth quarter. Assetmark Inc. now owns 4,052 shares of the financial services provider’s stock worth $488,000 after acquiring an additional 277 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Royal Bank of Canada by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock worth $427,589,000 after acquiring an additional 64,450 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on RY. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. BMO Capital Markets cut 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 report on Thursday, December 5th. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Trading Up 0.7 %

Shares of RY stock opened at $115.07 on Friday. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The stock has a market cap of $162.74 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.80 and a beta of 0.88. The business has a fifty day simple moving average of $119.55 and a 200-day simple moving average of $121.65. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

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 given a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is presently 45.96%.

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.