US Bancorp DE Grows Stock Holdings in Royal Bank of Canada (NYSE:RY)

US Bancorp DE boosted its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 87,312 shares of the financial services provider’s stock after acquiring an additional 718 shares during the period. US Bancorp DE’s holdings in Royal Bank of Canada were worth $10,522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC grew its stake in shares of Royal Bank of Canada by 4.9% during the 4th quarter. Fisher Asset Management LLC now owns 432,103 shares of the financial services provider’s stock valued at $52,073,000 after buying an additional 20,199 shares during the period. SVB Wealth LLC purchased a new stake in shares of Royal Bank of Canada during the 4th quarter valued at $277,000. McGrath & Associates Inc. purchased a new stake in shares of Royal Bank of Canada during the 4th quarter valued at $329,000. First Command Advisory Services Inc. purchased a new stake in shares of Royal Bank of Canada during the 4th quarter valued at $55,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Royal Bank of Canada during the 4th quarter valued at $5,882,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Down 1.1 %

Shares of Royal Bank of Canada stock opened at $116.87 on Tuesday. Royal Bank of Canada has a twelve month low of $95.84 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 stock has a market cap of $165.30 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87. The company has a fifty day moving average price of $120.07 and a 200 day moving average price of $121.66.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders 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 yield of 3.51%. Royal Bank of Canada’s dividend payout ratio is currently 45.73%.

Analyst Ratings Changes

Several brokerages have recently issued reports on RY. BMO Capital Markets lowered their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, 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. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.