Virtu Financial LLC Acquires Shares of 2,994 Royal Bank of Canada (NYSE:RY)

Virtu Financial LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,994 shares of the financial services provider’s stock, valued at approximately $361,000.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Royal Bank of Canada by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after buying an additional 64,450 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Royal Bank of Canada during the fourth quarter worth approximately $60,034,000. Wealth High Governance Capital Ltda purchased a new position in shares of Royal Bank of Canada during the fourth quarter worth approximately $10,243,000. Algert Global LLC bought a new stake in shares of Royal Bank of Canada during the third quarter valued at approximately $706,000. Finally, Bridgewater Associates LP boosted its holdings in shares of Royal Bank of Canada by 150.7% in the third quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after purchasing an additional 44,494 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Down 0.3 %

Royal Bank of Canada stock opened at $116.29 on Thursday. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The business has a fifty day moving average of $117.70 and a two-hundred day moving average of $121.17. The firm has a market cap of $164.17 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.80 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

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 given a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s payout ratio is currently 45.96%.

Analyst Upgrades and Downgrades

Several research analysts have commented on RY shares. BMO Capital Markets reduced their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock 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.