O Shaughnessy Asset Management LLC Grows Stock Position in Royal Bank of Canada (NYSE:RY)

O Shaughnessy Asset Management LLC lifted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 322,655 shares of the financial services provider’s stock after acquiring an additional 2,291 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Royal Bank of Canada were worth $38,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Royal Bank of Canada by 1.9% during 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 buying an additional 64,450 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Royal Bank of Canada during the fourth quarter worth about $60,034,000. Wealth High Governance Capital Ltda purchased a new stake in Royal Bank of Canada during the 4th quarter valued at about $10,243,000. Algert Global LLC acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at about $706,000. Finally, Jones Financial Companies Lllp lifted its stake in Royal Bank of Canada by 1,322.0% in the 4th quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 3,728 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

RY stock opened at $112.04 on Friday. The business’s fifty day moving average price is $117.43 and its 200 day moving average price is $121.04. 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 has a 12-month low of $95.84 and a 12-month high of $128.05. The company has a market capitalization of $158.17 billion, a PE ratio of 13.56, a P/E/G ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.66%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RY. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a research 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 report on Thursday, December 5th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $156.50.

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.