Oddo BHF Asset Management Sas Makes New Investment in Royal Bank of Canada (NYSE:RY)

Oddo BHF Asset Management Sas purchased a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 6,000 shares of the financial services provider’s stock, valued at approximately $748,000.

Several other large investors have also made changes to their positions in RY. Capital Performance Advisors LLP acquired a new stake in Royal Bank of Canada in the third quarter valued at approximately $25,000. Dunhill Financial LLC acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at $25,000. Larson Financial Group LLC bought a new stake in Royal Bank of Canada in the third quarter worth $26,000. Whittier Trust Co. of Nevada Inc. increased its position in Royal Bank of Canada by 110.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after buying an additional 118 shares during the last quarter. Finally, Grove Bank & Trust bought a new position in Royal Bank of Canada during the third quarter valued at about $28,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

RY opened at $124.50 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average price is $124.06 and its two-hundred day moving average price is $116.81. The firm has a market capitalization of $176.00 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 1.88 and a beta of 0.86. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a $1.0522 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.38%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 52.91%.

Analyst Ratings Changes

Several analysts have recently issued reports on RY shares. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets decreased their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.