A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised 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 valued at $7,136,056,000 after purchasing an additional 1,104,975 shares during the period. Norges Bank bought a new position in Royal Bank of Canada in the 4th quarter valued at about $2,425,519,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in 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 valued at $1,338,156,000 after acquiring an additional 921,276 shares during the period. Scotia Capital Inc. raised its holdings in Royal Bank of Canada by 1.9% in the 4th quarter. Scotia Capital Inc. now owns 8,891,023 shares of the financial services provider’s stock valued at $1,071,536,000 after acquiring an additional 169,437 shares during the period. Finally, Geode Capital Management LLC raised its holdings in 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 valued at $1,027,061,000 after acquiring an additional 1,991,364 shares during the period. 45.31% of the stock is owned by institutional investors.

NYSE RY opened at $119.81 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $169.13 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 1.80 and a beta of 0.82. The firm’s 50 day simple moving average is $114.60 and its 200 day simple moving average is $119.63. Royal Bank of Canada has a 1 year low of $96.52 and a 1 year high of $128.05.

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 paid a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 46.18%.

RY has been the topic of several research analyst reports. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. CIBC raised shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Friday, April 4th. Finally, Cibc World Mkts raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Royal Bank of Canada presently has an average rating of “Buy” and a consensus price target of $156.50.

Read Our Latest Analysis on RY

(Free Report)

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.

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