Royal Bank of Canada (NYSE:RY) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC grew its holdings in Royal Bank of Canada (NYSE:RYFree Report) (TSE:RY) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,308 shares of the financial services provider’s stock after buying an additional 94 shares during the period. Ballentine Partners LLC’s holdings in Royal Bank of Canada were worth $519,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in shares of Royal Bank of Canada by 6.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock worth $10,483,000 after acquiring an additional 4,980 shares during the period. Legal & General Group Plc increased its position in Royal Bank of Canada by 1.8% during the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after purchasing an additional 190,341 shares during the last quarter. Creative Planning raised its stake in Royal Bank of Canada by 6.4% during the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock worth $26,369,000 after purchasing an additional 12,693 shares during the period. CIBC Asset Management Inc boosted its holdings in 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 purchasing an additional 124,348 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $706,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

RY stock opened at $122.10 on Friday. The business’s fifty day moving average price is $122.45 and its 200 day moving average price is $119.66. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. 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 company has a market capitalization of $172.69 billion, a PE ratio of 14.78, a P/E/G ratio of 1.83 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. This represents a $4.21 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio is currently 50.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RY. BMO Capital Markets reduced their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

View Our Latest Report on RY

Royal Bank of Canada Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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