Clark Capital Management Group Inc. Purchases 8,435 Shares of Royal Bank of Canada (NYSE:RY)

Clark Capital Management Group Inc. increased its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 561,637 shares of the financial services provider’s stock after acquiring an additional 8,435 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Royal Bank of Canada were worth $67,683,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RY. WealthTrak Capital Management LLC acquired a new stake in Royal Bank of Canada during the 4th quarter worth about $28,000. Roxbury Financial LLC acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth about $29,000. Optiver Holding B.V. purchased a new stake in Royal Bank of Canada in the fourth quarter valued at approximately $35,000. Kieckhefer Group LLC acquired a new position in Royal Bank of Canada in the 4th quarter worth approximately $36,000. Finally, Crews Bank & Trust acquired a new stake in Royal Bank of Canada during the 4th quarter valued at approximately $36,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

NYSE:RY opened at $120.24 on Thursday. The company has a market capitalization of $169.74 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.80 and a beta of 0.89. Royal Bank of Canada has a 52 week low of $100.32 and a 52 week high of $128.05. The stock’s fifty day moving average is $114.84 and its two-hundred day moving average is $119.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 46.18%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RY shares. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. CIBC raised shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Friday, April 4th. Finally, Cibc World Mkts upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus 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.