Wellington Management Group LLP Purchases 415,293 Shares of Royal Bank of Canada (NYSE:RY)

Wellington Management Group LLP increased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,006,207 shares of the financial services provider’s stock after acquiring an additional 415,293 shares during the quarter. Wellington Management Group LLP owned about 0.78% of Royal Bank of Canada worth $1,118,448,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Altrius Capital Management Inc raised its holdings in Royal Bank of Canada by 3.3% in the 4th quarter. Altrius Capital Management Inc now owns 67,790 shares of the financial services provider’s stock worth $6,856,000 after acquiring an additional 2,165 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Royal Bank of Canada by 3.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 480,825 shares of the financial services provider’s stock worth $48,863,000 after purchasing an additional 15,041 shares during the last quarter. Triasima Portfolio Management inc. grew its position in Royal Bank of Canada by 5.5% in the 4th quarter. Triasima Portfolio Management inc. now owns 984,891 shares of the financial services provider’s stock worth $99,785,000 after purchasing an additional 50,995 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Royal Bank of Canada by 163.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 160,595 shares of the financial services provider’s stock worth $16,271,000 after purchasing an additional 99,523 shares during the last quarter. Finally, Addenda Capital Inc. grew its position in Royal Bank of Canada by 2.1% in the 4th quarter. Addenda Capital Inc. now owns 836,019 shares of the financial services provider’s stock worth $84,547,000 after purchasing an additional 16,964 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RY shares. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Barclays started coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Argus raised their price target on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Jefferies Financial Group upgraded shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Finally, Scotiabank upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus target price of $133.25.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock traded down $0.45 during trading on Friday, hitting $103.94. 597,137 shares of the company’s stock traded hands, compared to its average volume of 760,449. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s fifty day moving average price is $102.71 and its 200 day moving average price is $99.84. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $109.51. The company has a market cap of $147.08 billion, a PE ratio of 12.90, a PEG ratio of 1.64 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be given a $1.03 dividend. The ex-dividend date is Thursday, July 25th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a yield of 3.96%. Royal Bank of Canada’s payout ratio is 50.62%.

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.