Royal Bank of Canada (NYSE:RY) Shares Sold by Ameriprise Financial Inc.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC purchased a new position in shares of Royal Bank of Canada during the fourth quarter worth approximately $28,000. Roxbury Financial LLC purchased a new position in shares of Royal Bank of Canada during the fourth quarter worth approximately $29,000. Optiver Holding B.V. purchased a new position in shares of Royal Bank of Canada during the fourth quarter worth approximately $35,000. Crews Bank & Trust purchased a new position in shares of Royal Bank of Canada during the fourth quarter worth approximately $36,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new position in shares of Royal Bank of Canada during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.
NYSE:RY opened at $122.57 on Thursday. The firm’s fifty day moving average price is $115.45 and its 200 day moving average price is $119.35. Royal Bank of Canada has a 1-year low of $102.44 and a 1-year high of $128.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $173.03 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89.
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 $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.35%. Royal Bank of Canada’s dividend payout ratio (DPR) is 46.18%.
A number of brokerages have recently issued reports on RY. 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. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Finally, CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Buy” and an average price target of $156.50.
Check Out Our Latest Research Report on Royal Bank of Canada
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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