Royal Bank of Canada (NYSE:RY) Stake Boosted by Summerhill Capital Management lnc.

Summerhill Capital Management lnc. grew its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.8% in the 4th quarter, Holdings Channel reports. The firm owned 57,822 shares of the financial services provider’s stock after acquiring an additional 1,561 shares during the quarter. Royal Bank of Canada comprises approximately 5.2% of Summerhill Capital Management lnc.’s holdings, making the stock its 12th biggest position. Summerhill Capital Management lnc.’s holdings in Royal Bank of Canada were worth $6,965,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in RY. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada during the third quarter valued at approximately $25,000. Dunhill Financial LLC bought a new position in Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Larson Financial Group LLC bought a new position in Royal Bank of Canada in the 3rd quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after buying an additional 118 shares in the last quarter. Finally, Roxbury Financial LLC bought a new position in Royal Bank of Canada in the 4th quarter worth approximately $29,000. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Stock Performance

Shares of NYSE RY opened at $119.51 on Friday. The stock has a fifty day moving average price of $120.61 and a two-hundred day moving average price of $121.01. 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 firm has a market cap of $169.03 billion, a P/E ratio of 14.47, a PEG ratio of 1.81 and a beta of 0.87. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be paid 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 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RY shares. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. Finally, BMO Capital Markets decreased their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.