Fox Run Management L.L.C. Invests $247,000 in Royal Bank of Canada (NYSE:RY)

Fox Run Management L.L.C. bought a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,048 shares of the financial services provider’s stock, valued at approximately $247,000.

Other institutional investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Royal Bank of Canada by 9.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider’s stock valued at $1,338,156,000 after purchasing an additional 921,276 shares during the period. Geode Capital Management LLC lifted its stake in Royal Bank of Canada by 9.3% in the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after buying an additional 541,760 shares during the period. Alberta Investment Management Corp lifted its stake in Royal Bank of Canada by 0.4% in the fourth quarter. Alberta Investment Management Corp now owns 3,583,817 shares of the financial services provider’s stock valued at $431,892,000 after buying an additional 15,300 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 worth $427,589,000 after buying an additional 64,450 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Royal Bank of Canada by 18.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock worth $291,925,000 after buying an additional 359,719 shares during the period. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on RY. BMO Capital Markets dropped 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. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Performance

NYSE RY opened at $114.73 on Friday. The company has a market cap of $161.96 billion, a P/E ratio of 13.89, a PEG ratio of 1.80 and a beta of 0.88. The company has a fifty day simple moving average of $117.59 and a 200 day simple moving average of $121.13. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. 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 Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is presently 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.