2 weeks Ago By Defense World Staff
Prudential Financial Inc. cut its position in Royal Bank of Canada (NYSE:RY – Free Report) (TSE:RY) by 50.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC).
The institutional investor owned 13,816 shares of the financial services provider’s stock after selling 14,024 shares during the quarter. Prudential Financial Inc.’s holdings in Royal Bank of Canada were worth $1,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Financial Management Professionals Inc. raised its position in shares of Royal Bank of Canada by 26.
8% during the 4th quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider’s stock valued at $51,000 after buying an additional 90 shares in the last quarter.
Ballentine Partners LLC raised its holdings in Royal Bank of Canada by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock valued at $519,000 after buying an additional 94 shares during the last quarter.
Richardson Financial Services Inc. boosted its position in Royal Bank of Canada by 45.7% during the 4th quarter.
Richardson Financial Services Inc. now owns 306 shares of the financial services provider’s stock valued at $37,000 after buying an additional 96 shares during the period. DAVENPORT & Co LLC increased its position in shares of Royal Bank of Canada by 0.
8% in the fourth quarter. DAVENPORT & Co LLC now owns 12,466 shares of the financial services provider’s stock valued at $1,502,000 after acquiring an additional 101 shares during the period. Finally, CENTRAL TRUST Co raised its stake in shares of Royal Bank of Canada by 5.
3% during the fourth quarter. CENTRAL TRUST Co now owns 2,270 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 45.
31% of the company’s stock. Royal Bank of Canada Stock PerformanceShares of RY stock opened at $111.13 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 company’s fifty day moving average price is $116.60 and its 200-day moving average price is $120.
69. The stock has a market cap of $156.88 billion, a PE ratio of 13.
45, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82.
Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05.
Royal Bank of Canada Cuts DividendThe firm 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.
This represents a $4.10 dividend on an annualized basis and a yield of 3.69%.
The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.
Analysts Set New Price TargetsA number of brokerages recently issued reports on RY. CIBC upgraded Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Friday. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday.
Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock.
Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $156.50.Read Our Latest Stock Analysis on RYAbout Royal Bank of Canada (Free Report)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.See AlsoFive stocks we like better than Royal Bank of CanadaREIT Stocks – Best REIT Stocks to Add to Your Portfolio TodayConagra Stock Could Thrive as Tariffs Hit Other SectorsOptions Trading – Understanding Strike PriceGrocery Costs and Tariffs Now Top of Mind in Everyday Conversations, New Survey FindsHow to Calculate Options ProfitsSpotify Stock Eyes Double-Digit Upside—Is Now the Time to Buy?.
