one8zero8 LLC Purchases New Position in Royal Bank of Canada (NYSE:RY)

one8zero8 LLC purchased a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,335 shares of the financial services provider’s stock, valued at approximately $4,379,000. Royal Bank of Canada comprises 0.9% of one8zero8 LLC’s holdings, making the stock its 21st largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of RY. Assetmark Inc. grew its stake in Royal Bank of Canada by 274.5% in the 3rd quarter. Assetmark Inc. now owns 3,775 shares of the financial services provider’s stock valued at $471,000 after buying an additional 2,767 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in shares of Royal Bank of Canada by 4.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,508 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 115 shares in the last quarter. Coastline Trust Co acquired a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $41,000. Natixis Advisors LLC grew its position in shares of Royal Bank of Canada by 3.9% during the 3rd quarter. Natixis Advisors LLC now owns 122,223 shares of the financial services provider’s stock worth $15,245,000 after purchasing an additional 4,615 shares in the last quarter. Finally, Prudent Man Advisors LLC acquired a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $220,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RY. 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 restated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. BMO Capital Markets decreased their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Performance

NYSE RY opened at $111.52 on Friday. 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 capitalization of $157.43 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 1.80 and a beta of 0.88. The firm’s 50 day simple moving average is $118.61 and its 200 day simple moving average is $121.52. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.96%.

Royal Bank of Canada 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.