Royal Bank of Canada (NYSE:RY) Stock Holdings Lowered by Beutel Goodman & Co Ltd.
Beutel Goodman & Co Ltd. lessened its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 20.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,459,760 shares of the financial services provider's stock after selling 1,870,547 shares during the period. Royal Bank of Canada makes up 4.9% of Beutel Goodman & Co Ltd.'s holdings, making the stock its biggest position. Beutel Goodman & Co Ltd. owned approximately 0.53% of Royal Bank of Canada worth $898,987,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 valued at $7,136,056,000 after buying an additional 1,104,975 shares during the period. Norges Bank purchased a new stake in Royal Bank of Canada in the 4th quarter worth approximately $2,425,519,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Royal Bank of Canada by 9.0% during 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 purchasing an additional 921,276 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Royal Bank of Canada by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider's stock valued at $805,616,000 after purchasing an additional 541,760 shares during the period. Finally, GQG Partners LLC boosted its stake in shares of Royal Bank of Canada by 0.9% during the 4th quarter. GQG Partners LLC now owns 5,796,767 shares of the financial services provider's stock worth $698,579,000 after acquiring an additional 51,277 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.
RY stock opened at $112.04 on Friday. Royal Bank of Canada has a 1 year low of $95.84 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 capitalization of $158.17 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The business has a 50 day simple moving average of $117.43 and a 200-day simple moving average of $121.05.
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. This represents a $4.10 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's payout ratio is currently 45.96%.
A number of brokerages have issued reports on RY. BMO Capital Markets lowered their price target on Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a research report on Thursday, December 5th. CIBC reaffirmed a "neutral" rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Finally, StockNews.com raised shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $156.50.
View Our Latest Analysis on RY
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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