Davis Rea LTD. Has $2.24 Million Stake in Royal Bank of Canada (NYSE:RY)

Davis Rea LTD. lowered its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 18,618 shares of the financial services provider’s stock after selling 1,047 shares during the period. Royal Bank of Canada comprises about 1.1% of Davis Rea LTD.’s holdings, making the stock its 19th biggest position. Davis Rea LTD.’s holdings in Royal Bank of Canada were worth $2,240,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Royal Bank of Canada by 75.8% during the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after purchasing an additional 7,702,585 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Royal Bank of Canada by 165.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock valued at $361,532,000 after acquiring an additional 1,804,022 shares during the period. Geode Capital Management LLC grew its stake in shares of 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 worth $805,616,000 after acquiring an additional 541,760 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in 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 valued at $291,925,000 after purchasing an additional 359,719 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Royal Bank of Canada in the 3rd quarter valued at $42,072,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

RY has been the subject of a number of research analyst reports. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, BMO Capital Markets decreased their price target 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Performance

RY stock opened at $115.26 on Friday. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. 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 company has a market cap of $163.02 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87. The business’s fifty day moving average is $120.19 and its 200-day moving average is $121.38.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, January 27th were given a dividend of $1.0522 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Monday, January 27th. Royal Bank of Canada’s payout ratio is presently 49.76%.

About Royal Bank of Canada

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.