Candriam S.C.A. Boosts Stock Position in Royal Bank of Canada (NYSE:RY)

Candriam S.C.A. increased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 8.3% in the fourth quarter, HoldingsChannel reports. The firm owned 45,803 shares of the financial services provider’s stock after buying an additional 3,517 shares during the quarter. Candriam S.C.A.’s holdings in Royal Bank of Canada were worth $5,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Royal Bank of Canada in the 3rd quarter worth about $25,000. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada in the 3rd quarter worth about $25,000. Larson Financial Group LLC acquired a new stake in Royal Bank of Canada in the 3rd quarter worth about $26,000. Roxbury Financial LLC acquired a new stake in Royal Bank of Canada in the 4th quarter worth about $29,000. Finally, Kieckhefer Group LLC acquired a new stake in Royal Bank of Canada in the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RY has been the topic of a number of research analyst reports. BMO Capital Markets decreased 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 note on Thursday, December 5th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Performance

NYSE RY opened at $115.07 on Friday. The firm has a market capitalization of $162.74 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.80 and a beta of 0.88. 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 business’s 50-day simple moving average is $119.55 and its 200-day simple moving average is $121.65.

Royal Bank of Canada Cuts Dividend

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 paid a $1.0251 dividend. This represents a $4.10 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 45.96%.

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.