85,000 Shares in Royal Bank of Canada (NYSE:RY) Bought by Wealth High Governance Capital Ltda

Wealth High Governance Capital Ltda purchased a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,000 shares of the financial services provider’s stock, valued at approximately $10,243,000. Royal Bank of Canada comprises approximately 3.7% of Wealth High Governance Capital Ltda’s investment portfolio, making the stock its 8th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of Royal Bank of Canada by 75.8% during the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after purchasing an additional 7,702,585 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Royal Bank of Canada by 165.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock worth $361,532,000 after acquiring an additional 1,804,022 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Royal Bank of Canada by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after acquiring an additional 541,760 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Royal Bank of Canada in the 4th quarter valued at about $60,034,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Royal Bank of Canada by 18.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock worth $291,925,000 after purchasing an additional 359,719 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at $110.33 on Wednesday. The business’s 50 day moving average price is $119.19 and its 200 day moving average price is $121.67. The company has a market cap of $156.05 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05.

Royal Bank of Canada Cuts Dividend

The company 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 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 45.96%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. 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 reduced their price target on shares of 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. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.