Renaissance Technologies LLC Purchases Shares of 273,694 Royal Bank of Canada (NYSE:RY)

Renaissance Technologies LLC purchased a new position in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, HoldingsChannel reports. The fund purchased 273,694 shares of the financial services provider’s stock, valued at approximately $32,983,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in Royal Bank of Canada by 38.7% during the third quarter. BNP Paribas Financial Markets now owns 1,276 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 356 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Royal Bank of Canada by 7.5% during the 3rd quarter. EP Wealth Advisors LLC now owns 2,908 shares of the financial services provider’s stock valued at $363,000 after buying an additional 203 shares in the last quarter. Barclays PLC lifted its holdings in shares of Royal Bank of Canada by 3.1% during the 3rd quarter. Barclays PLC now owns 8,831 shares of the financial services provider’s stock worth $1,101,000 after acquiring an additional 268 shares during the last quarter. Te Ahumairangi Investment Management Ltd lifted its holdings in shares of Royal Bank of Canada by 1.4% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 35,540 shares of the financial services provider’s stock worth $4,416,000 after acquiring an additional 500 shares during the last quarter. Finally, Fulcrum Equity Management purchased a new position in Royal Bank of Canada in the third quarter worth $216,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Friday, April 4th. Finally, Cibc World Mkts upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada presently has an average rating of “Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Up 3.0 %

RY opened at $113.26 on Friday. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05. 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 business’s 50-day moving average price is $115.13 and its 200-day moving average price is $120.13. The company has a market cap of $159.89 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.80 and a beta of 0.82.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.62%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 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.