Royal Bank of Canada (NYSE:RY) Stock Position Lifted by Sei Investments Co.

Sei Investments Co. lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,007 shares of the financial services provider’s stock after purchasing an additional 124 shares during the quarter. Sei Investments Co.’s holdings in Royal Bank of Canada were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Royal Bank of Canada by 9.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider’s stock valued at $1,338,156,000 after buying an additional 921,276 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Royal Bank of Canada during the 4th quarter valued at about $70,429,000. Raymond James Financial Inc. acquired a new position in shares of Royal Bank of Canada in the 4th quarter worth approximately $60,034,000. Americana Partners LLC grew its stake in shares of Royal Bank of Canada by 504.1% in the 4th quarter. Americana Partners LLC now owns 178,260 shares of the financial services provider’s stock worth $21,482,000 after purchasing an additional 148,752 shares during the last quarter. Finally, Avanza Fonder AB acquired a new stake in Royal Bank of Canada during the fourth quarter valued at approximately $11,170,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RY has been the topic of several recent research reports. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday, April 4th. Finally, Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $113.26 on Friday. The company has a market capitalization of $159.89 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year 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 stock’s fifty day simple moving average is $115.13 and its 200-day simple moving average is $120.13.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.62%. Royal Bank of Canada’s dividend payout ratio is 45.96%.

Royal Bank of Canada Company 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.