Royal Bank of Canada (NYSE:RY) Shares Purchased by GQG Partners LLC

GQG Partners LLC grew its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,796,767 shares of the financial services provider’s stock after purchasing an additional 51,277 shares during the quarter. GQG Partners LLC’s holdings in Royal Bank of Canada were worth $698,579,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. raised its position in Royal Bank of Canada by 26.8% in the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 90 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Royal Bank of Canada by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 94 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in Royal Bank of Canada by 45.7% during the fourth quarter. Richardson Financial Services Inc. now owns 306 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 96 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in Royal Bank of Canada by 0.8% during the fourth quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider’s stock worth $1,502,000 after buying an additional 101 shares in the last quarter. Finally, CENTRAL TRUST Co grew its position in Royal Bank of Canada by 5.3% in the fourth quarter. CENTRAL TRUST Co now owns 2,270 shares of the financial services provider’s stock worth $274,000 after buying an additional 115 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the subject of a number of recent research reports. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. BMO Capital Markets decreased their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Finally, CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $115.91 on Tuesday. The company has a market capitalization of $163.63 billion, a price-to-earnings ratio of 14.03, 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 current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $117.80 and its 200-day simple moving average is $121.24.

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 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 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.