Brucke Financial Inc. Invests $472,000 in Royal Bank of Canada (NYSE:RY)

Brucke Financial Inc. purchased a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,868 shares of the financial services provider’s stock, valued at approximately $472,000.

Several other institutional investors and hedge funds also recently bought and sold shares of RY. Norges Bank bought a new position in Royal Bank of Canada in the 4th quarter worth approximately $2,425,519,000. Geode Capital Management LLC boosted its holdings in Royal Bank of Canada by 31.2% in the 4th quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider’s stock worth $1,027,061,000 after buying an additional 1,991,364 shares during the period. APG Asset Management N.V. boosted its holdings in Royal Bank of Canada by 1,600.9% in the 4th quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider’s stock valued at $166,084,000 after purchasing an additional 1,343,174 shares during the period. Vanguard Group Inc. boosted its holdings in Royal Bank of Canada by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider’s stock valued at $7,136,056,000 after purchasing an additional 1,104,975 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in 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. 45.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on RY. Wall Street Zen raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, May 9th. CIBC reissued an “outperform” rating on shares of Royal Bank of Canada in a report on Tuesday, May 20th. Cibc World Mkts raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Finally, Scotiabank began coverage on shares of Royal Bank of Canada in a report on Thursday, May 15th. They issued a “sector outperform” rating for the company. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at $128.21 on Monday. The firm’s fifty day moving average price is $117.54 and its 200-day moving average price is $119.47. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $181.33 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89. Royal Bank of Canada has a fifty-two week low of $102.44 and a fifty-two week high of $128.73.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th were given a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 46.18%.

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.