Scotia Capital Inc. Purchases 169,437 Shares of Royal Bank of Canada (NYSE:RY)
Scotia Capital Inc. boosted its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,891,023 shares of the financial services provider's stock after acquiring an additional 169,437 shares during the period. Royal Bank of Canada accounts for about 5.6% of Scotia Capital Inc.'s portfolio, making the stock its largest holding. Scotia Capital Inc. owned approximately 0.63% of Royal Bank of Canada worth $1,071,536,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Royal Bank of Canada by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider's stock worth $427,589,000 after purchasing an additional 64,450 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Royal Bank of Canada during the 4th quarter worth approximately $60,034,000. Wealth High Governance Capital Ltda acquired a new stake in Royal Bank of Canada during the fourth quarter worth approximately $10,243,000. Jones Financial Companies Lllp grew its stake in shares of Royal Bank of Canada by 1,322.0% during the 4th quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider's stock valued at $483,000 after buying an additional 3,728 shares during the period. Finally, Geode Capital Management LLC boosted its position in Royal Bank of Canada by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider's stock worth $805,616,000 after purchasing an additional 541,760 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of RY opened at $113.75 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. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. The business's 50 day moving average is $115.41 and its 200 day moving average is $120.30. The company has a market capitalization of $160.58 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is presently 45.96%.
Several equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. 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. 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 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $156.50.
Read Our Latest 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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