2,048 Shares in Royal Bank of Canada (NYSE:RY) Bought by Fox Run Management L.L.C.

Fox Run Management L.L.C. acquired a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,048 shares of the financial services provider’s stock, valued at approximately $247,000.

A number of other hedge funds have also recently bought and sold shares of RY. Charles Schwab Investment Management Inc. lifted its position in shares of Royal Bank of Canada by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after purchasing an additional 64,450 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Royal Bank of Canada in the 4th quarter valued at about $60,034,000. Wealth High Governance Capital Ltda purchased a new stake in Royal Bank of Canada in the 4th quarter valued at about $10,243,000. Algert Global LLC bought a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $706,000. Finally, Bridgewater Associates LP boosted its stake in shares of Royal Bank of Canada by 150.7% in the 3rd quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock worth $9,249,000 after buying an additional 44,494 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RY shares. 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. CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $114.73 on Friday. The firm has a market cap of $161.96 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The stock has a fifty day simple moving average of $117.59 and a two-hundred day simple moving average of $121.13. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) 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.