Royal Bank of Canada (NYSE:RY) Position Increased by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. raised its stake in shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,850 shares of the financial services provider’s stock after buying an additional 12,185 shares during the period. Clark Capital Management Group Inc.’s holdings in Royal Bank of Canada were worth $38,027,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RY. Envestnet Asset Management Inc. increased its stake in shares of Royal Bank of Canada by 2.9% in the first quarter. Envestnet Asset Management Inc. now owns 173,341 shares of the financial services provider’s stock worth $19,114,000 after purchasing an additional 4,919 shares during the period. Principal Financial Group Inc. acquired a new stake in Royal Bank of Canada during the first quarter valued at approximately $16,895,000. Moreno Evelyn V acquired a new stake in Royal Bank of Canada during the first quarter valued at approximately $328,000. MAI Capital Management boosted its holdings in Royal Bank of Canada by 6.7% during the first quarter. MAI Capital Management now owns 2,083 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 130 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its holdings in Royal Bank of Canada by 272.4% during the first quarter. JFS Wealth Advisors LLC now owns 473 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 346 shares in the last quarter. 40.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RY shares. Canaccord Genuity Group decreased their price objective on Royal Bank of Canada from C$134.00 to C$131.50 and set a “hold” rating on the stock in a report on Thursday, August 18th. TD Securities cut their target price on shares of Royal Bank of Canada from C$150.00 to C$145.00 in a research note on Friday, May 27th. Keefe, Bruyette & Woods cut shares of Royal Bank of Canada from a “market perform” rating to an “underperform” rating and cut their target price for the company from C$132.00 to C$118.00 in a research note on Monday, August 8th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Credit Suisse Group cut their target price on shares of Royal Bank of Canada from C$144.00 to C$143.00 in a research note on Thursday, August 25th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $139.81.

Royal Bank of Canada Stock Performance

RY stock opened at $98.04 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.89 and a quick ratio of 0.89. The company has a 50 day moving average price of $96.53 and a 200 day moving average price of $101.81. Royal Bank of Canada has a fifty-two week low of $90.75 and a fifty-two week high of $119.41. The stock has a market capitalization of $136.55 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 2.44 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 24th. Shareholders of record on Wednesday, October 26th will be given a dividend of $1.00 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, October 25th. This represents a $4.00 annualized dividend and a dividend yield of 4.08%. Royal Bank of Canada’s payout ratio is presently 45.91%.

Royal Bank of Canada Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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