Royal Bank of Canada (NYSE:RY) Shares Purchased by US Bancorp DE

US Bancorp DE boosted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 87,312 shares of the financial services provider’s stock after acquiring an additional 718 shares during the quarter. US Bancorp DE’s holdings in Royal Bank of Canada were worth $10,522,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in shares of Royal Bank of Canada by 4.9% in the 4th quarter. Fisher Asset Management LLC now owns 432,103 shares of the financial services provider’s stock valued at $52,073,000 after purchasing an additional 20,199 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at about $277,000. McGrath & Associates Inc. acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at about $329,000. First Command Advisory Services Inc. acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at about $55,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at about $5,882,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RY shares. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets cut their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Price Performance

RY opened at $116.87 on Tuesday. The firm has a market cap of $165.30 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The company’s 50-day moving average price is $120.07 and its 200 day moving average price is $121.66. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.51%. Royal Bank of Canada’s dividend payout ratio (DPR) is 45.73%.

Royal Bank of Canada 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.