Oddo BHF Asset Management Sas Acquires Shares of 6,000 Royal Bank of Canada (NYSE:RY)

Oddo BHF Asset Management Sas bought a new position in Royal Bank of Canada (NYSE:RY) (TSE:RY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,000 shares of the financial services provider’s stock, valued at approximately $748,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Bank of Canada FI increased its holdings in shares of Royal Bank of Canada by 16.7% during the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $2,141,681,000 after buying an additional 2,901,033 shares in the last quarter. FMR LLC grew its position in Royal Bank of Canada by 75.8% during the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after acquiring an additional 7,702,585 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock valued at $1,706,833,000 after purchasing an additional 124,348 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Royal Bank of Canada by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock valued at $1,289,274,000 after purchasing an additional 256,023 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Royal Bank of Canada by 1.8% in the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after purchasing an additional 190,341 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.1 %

Shares of RY opened at $124.50 on Friday. The stock’s fifty day simple moving average is $124.06 and its 200-day simple moving average is $116.81. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $176.00 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.88 and a beta of 0.86. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a $1.0522 dividend. This represents a $4.21 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is 52.91%.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of research reports. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets decreased their price objective 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. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada 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.