Quantinno Capital Management LP Buys 4,837 Shares of Royal Bank of Canada (NYSE:RY)

Quantinno Capital Management LP increased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 8.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,153 shares of the financial services provider’s stock after purchasing an additional 4,837 shares during the period. Quantinno Capital Management LP’s holdings in Royal Bank of Canada were worth $7,129,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RY. Man Group plc grew its position in Royal Bank of Canada by 29.4% during the fourth quarter. Man Group plc now owns 38,076 shares of the financial services provider’s stock valued at $4,589,000 after acquiring an additional 8,646 shares during the last quarter. Nuveen Asset Management LLC grew its position in Royal Bank of Canada by 0.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,649,256 shares of the financial services provider’s stock valued at $198,755,000 after acquiring an additional 5,821 shares during the last quarter. Logan Capital Management Inc. grew its position in Royal Bank of Canada by 1.7% during the fourth quarter. Logan Capital Management Inc. now owns 33,565 shares of the financial services provider’s stock valued at $4,045,000 after acquiring an additional 562 shares during the last quarter. Graham Capital Management L.P. bought a new position in Royal Bank of Canada during the fourth quarter valued at approximately $2,042,000. Finally, Focus Partners Wealth grew its position in Royal Bank of Canada by 516.2% during the fourth quarter. Focus Partners Wealth now owns 217,073 shares of the financial services provider’s stock valued at $26,849,000 after acquiring an additional 181,847 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Scotiabank assumed coverage on shares of Royal Bank of Canada in a research report on Thursday. They set a “sector outperform” rating on the stock. CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday, April 4th. Cibc World Mkts upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Price Performance

Shares of RY stock opened at $125.80 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a fifty-two week low of $102.44 and a fifty-two week high of $128.05. The firm has a market cap of $177.58 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.80 and a beta of 0.89. The business’s 50 day moving average price is $115.99 and its 200-day moving average price is $119.37.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 annualized dividend and a yield of 3.26%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 46.18%.

About Royal Bank of Canada

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.