Wealth High Governance Capital Ltda Buys Shares of 85,000 Royal Bank of Canada (NYSE:RY)

Wealth High Governance Capital Ltda purchased a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the fourth quarter, HoldingsChannel reports. The firm purchased 85,000 shares of the financial services provider’s stock, valued at approximately $10,243,000. Royal Bank of Canada accounts for 3.7% of Wealth High Governance Capital Ltda’s portfolio, making the stock its 8th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in Royal Bank of Canada during the 3rd quarter valued at about $25,000. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada in the 3rd quarter valued at approximately $26,000. Roxbury Financial LLC acquired a new position in shares of Royal Bank of Canada in the fourth quarter worth $29,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Royal Bank of Canada during the fourth quarter worth $36,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $110.33 on Wednesday. The stock has a market cap of $156.05 billion, a P/E ratio of 13.36, a P/E/G ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The stock has a 50 day moving average of $119.19 and a two-hundred day moving average of $121.67. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.72%. Royal Bank of Canada’s dividend payout ratio (DPR) is 45.96%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. BMO Capital Markets cut their price target on 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. 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. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.