Sachetta LLC Takes Position in Royal Bank of Canada (NYSE:RY)

Sachetta LLC bought a new position in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 390 shares of the financial services provider’s stock, valued at approximately $47,000.

A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Royal Bank of Canada by 75.8% in the 3rd 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 during the last quarter. CIBC Asset Management Inc grew its position in Royal Bank of Canada by 0.9% during the third 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 acquiring an additional 124,348 shares during the period. The Manufacturers Life Insurance Company grew its position in Royal Bank of Canada by 2.2% during the second 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 acquiring an additional 256,023 shares during the period. Legal & General Group Plc raised its holdings in shares of Royal Bank of Canada by 1.8% in the 2nd 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 during the period. Finally, Geode Capital Management LLC lifted 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 valued at $805,616,000 after purchasing an additional 541,760 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

RY opened at $122.62 on Friday. Royal Bank of Canada has a twelve month low of $93.97 and a twelve month 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 firm has a market cap of $173.43 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 1.81 and a beta of 0.87. The company has a fifty day simple moving average of $122.44 and a 200 day simple moving average of $119.67.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be paid a $1.0522 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.43%. Royal Bank of Canada’s payout ratio is 50.85%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of 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. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.