Royal Bank of Canada (NYSE:RY) Shares Acquired by Richardson Financial Services Inc.

Richardson Financial Services Inc. increased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 45.7% in the fourth quarter, Holdings Channel reports. The firm owned 306 shares of the financial services provider’s stock after purchasing an additional 96 shares during the quarter. Richardson Financial Services Inc.’s holdings in Royal Bank of Canada were worth $37,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research analysts have recently commented on the stock. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. BMO Capital Markets reduced 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. 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Performance

Shares of NYSE RY opened at $122.19 on Monday. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. The company has a market cap of $172.82 billion, a PE ratio of 14.79, a P/E/G ratio of 1.82 and a beta of 0.87. The stock has a 50 day simple moving average of $122.38 and a 200-day simple moving average of $120.25. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

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 paid a $1.0522 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.44%. Royal Bank of Canada’s dividend payout ratio is presently 49.76%.

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.