Royal Bank of Canada (NYSE:RY) Stock Position Lifted by Focus Partners Wealth

Focus Partners Wealth grew its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 516.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 217,073 shares of the financial services provider’s stock after buying an additional 181,847 shares during the period. Focus Partners Wealth’s holdings in Royal Bank of Canada were worth $26,849,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Royal Bank of Canada in the 4th quarter worth approximately $2,425,519,000. Geode Capital Management LLC lifted its holdings in shares of Royal Bank of Canada by 31.2% in the 4th quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider’s stock worth $1,027,061,000 after purchasing an additional 1,991,364 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of Royal Bank of Canada by 1,600.9% in the 4th quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider’s stock worth $166,084,000 after purchasing an additional 1,343,174 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Royal Bank of Canada by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider’s stock worth $7,136,056,000 after purchasing an additional 1,104,975 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Royal Bank of Canada by 9.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider’s stock worth $1,338,156,000 after purchasing an additional 921,276 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RY. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Finally, CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Friday, April 4th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Up 0.2%

Shares of Royal Bank of Canada stock opened at $120.09 on Monday. Royal Bank of Canada has a 1-year low of $102.44 and a 1-year high of $128.05. The company has a market capitalization of $169.53 billion, a P/E ratio of 14.54, a PEG ratio of 1.80 and a beta of 0.89. The business’s fifty day moving average price is $115.04 and its two-hundred day moving average price is $119.33. 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 Cuts Dividend

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

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.