Andra AP fonden Buys New Stake in Royal Bank of Canada (NYSE:RY)

Andra AP fonden bought a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,000 shares of the financial services provider’s stock, valued at approximately $241,000.

Several other large investors have also recently added to or reduced their stakes in RY. Capital Performance Advisors LLP acquired a new position in shares of Royal Bank of Canada during the 3rd quarter valued at $25,000. Assetmark Inc. increased its position in shares of Royal Bank of Canada by 274.5% during the 3rd quarter. Assetmark Inc. now owns 3,775 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 2,767 shares during the period. Lindbrook Capital LLC increased its position in shares of Royal Bank of Canada by 5.5% during the 3rd quarter. Lindbrook Capital LLC now owns 2,090 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 109 shares during the period. Addison Advisors LLC boosted its stake in shares of Royal Bank of Canada by 9.5% during the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 82 shares in the last quarter. Finally, Tacita Capital Inc boosted its stake in shares of Royal Bank of Canada by 12.7% during the 3rd quarter. Tacita Capital Inc now owns 32,818 shares of the financial services provider’s stock worth $4,101,000 after acquiring an additional 3,700 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $115.07 on Monday. 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 1 year low of $95.84 and a 1 year high of $128.05. The business has a fifty day simple moving average of $119.55 and a 200 day simple moving average of $121.71. The firm has a market cap of $162.74 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.56%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 45.96%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. BMO Capital Markets reduced their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus price target 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.