Brown Brothers Harriman & Co. Boosts Holdings in Royal Bank of Canada (NYSE:RY)

Brown Brothers Harriman & Co. grew its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,436 shares of the financial services provider’s stock after acquiring an additional 1,160 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Royal Bank of Canada were worth $2,222,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RY. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada in the 3rd quarter worth about $25,000. Larson Financial Group LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter worth approximately $26,000. Roxbury Financial LLC purchased a new position in Royal Bank of Canada during the 4th quarter valued at $29,000. Kieckhefer Group LLC bought a new position in Royal Bank of Canada in the 4th quarter valued at $36,000. Finally, Crews Bank & Trust purchased a new stake in Royal Bank of Canada in the fourth quarter worth $36,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $112.04 on Friday. The firm has a market cap of $158.17 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $117.43 and its 200 day moving average is $121.04.

Royal Bank of Canada Cuts Dividend

The business 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 $1.0251 dividend. This represents a $4.10 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.96%.

Analysts Set New Price Targets

A number of research analysts have recently commented on RY shares. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. BMO Capital Markets decreased their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $156.50.

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.