Rockefeller Capital Management L.P. Purchases 8,350 Shares of Royal Bank of Canada (NYSE:RY)

Rockefeller Capital Management L.P. increased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 248,289 shares of the financial services provider’s stock after purchasing an additional 8,350 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Royal Bank of Canada were worth $29,919,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in Royal Bank of Canada by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after buying an additional 64,450 shares during the period. Raymond James Financial Inc. acquired a new stake in Royal Bank of Canada during the 4th quarter valued at $60,034,000. Wealth High Governance Capital Ltda acquired a new stake in Royal Bank of Canada during the 4th quarter valued at $10,243,000. Jones Financial Companies Lllp boosted its position in Royal Bank of Canada by 1,322.0% during the fourth 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 during the period. Finally, Baskin Financial Services Inc. raised its position in shares of Royal Bank of Canada by 31.3% in the fourth quarter. Baskin Financial Services Inc. now owns 59,849 shares of the financial services provider’s stock valued at $7,212,000 after purchasing an additional 14,250 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $113.26 on Monday. The business has a fifty day moving average price of $115.13 and a two-hundred day moving average price of $120.10. The stock has a market capitalization of $159.89 billion, a PE ratio of 13.71, a P/E/G ratio of 1.80 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week 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 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 3.62%. Royal Bank of Canada’s dividend payout ratio is 45.96%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RY. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Friday, April 4th. Finally, Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Buy” and an average target price of $156.50.

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.