Franklin Resources Inc. Purchases 54,293 Shares of Royal Bank of Canada (NYSE:RY)

Franklin Resources Inc. boosted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,729,059 shares of the financial services provider’s stock after purchasing an additional 54,293 shares during the period. Franklin Resources Inc. owned approximately 0.19% of Royal Bank of Canada worth $328,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Dunhill Financial LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth approximately $25,000. WealthTrak Capital Management LLC purchased a new stake in Royal Bank of Canada in the fourth quarter worth $28,000. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada during the fourth quarter worth $29,000. Kieckhefer Group LLC purchased a new stake in shares of Royal Bank of Canada during the fourth quarter valued at $36,000. Finally, Crews Bank & Trust purchased a new stake in shares of Royal Bank of Canada during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the subject of a number of research analyst reports. CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, BMO Capital Markets dropped their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Price Performance

Shares of RY opened at $112.66 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50 day moving average price of $117.27 and a 200-day moving average price of $120.95. 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 capitalization of $159.04 billion, a PE ratio of 13.64, a PEG ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.64%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

Royal Bank of Canada Company 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.