DAVENPORT & Co LLC Buys 101 Shares of Royal Bank of Canada (NYSE:RY)

DAVENPORT & Co LLC raised its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,466 shares of the financial services provider’s stock after acquiring an additional 101 shares during the period. DAVENPORT & Co LLC’s holdings in Royal Bank of Canada were worth $1,502,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Royal Bank of Canada by 75.8% during the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after purchasing an additional 7,702,585 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Royal Bank of Canada by 165.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock valued at $361,532,000 after buying an additional 1,804,022 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $153,217,000. Geode Capital Management LLC boosted its stake in shares of Royal Bank of Canada by 9.3% in 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 buying an additional 541,760 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Royal Bank of Canada by 18.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock valued at $291,925,000 after acquiring an additional 359,719 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Up 0.3 %

RY stock opened at $119.07 on Thursday. The stock has a 50-day simple moving average of $122.16 and a two-hundred day simple moving average of $120.41. Royal Bank of Canada has a twelve month low of $93.97 and a twelve month high of $128.05. The firm has a market capitalization of $168.41 billion, a PE ratio of 14.42, a PEG ratio of 1.82 and a beta of 0.87. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a $1.0522 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.53%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.76%.

Wall Street Analyst Weigh In

RY has been the subject of several research analyst reports. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Finally, BMO Capital Markets lowered their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

About 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.