Royal Bank of Canada (NYSE:RY) Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 18.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 275,723 shares of the financial services provider’s stock after purchasing an additional 42,706 shares during the quarter. Allianz Asset Management GmbH’s holdings in Royal Bank of Canada were worth $33,228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RY. FMR LLC raised its position in Royal Bank of Canada by 75.8% in the third 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. CIBC Asset Management Inc lifted its position in Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after acquiring an additional 124,348 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Royal Bank of Canada by 9.3% in the 3rd 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 period. Fiera Capital Corp grew its position in Royal Bank of Canada by 3.7% in the third quarter. Fiera Capital Corp now owns 4,759,385 shares of the financial services provider’s stock valued at $594,791,000 after acquiring an additional 171,125 shares in the last quarter. Finally, Alberta Investment Management Corp raised its stake in shares of Royal Bank of Canada by 0.4% during the fourth quarter. Alberta Investment Management Corp now owns 3,583,817 shares of the financial services provider’s stock valued at $431,892,000 after purchasing an additional 15,300 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Shares of RY opened at $118.92 on Monday. The stock has a market capitalization of $168.20 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87. The business’s fifty day moving average price is $120.50 and its 200 day moving average price is $121.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. The ex-dividend date is Monday, January 27th. 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 3.54%. Royal Bank of Canada’s dividend payout ratio is 49.76%.

Analysts Set New Price Targets

RY has been the subject of a number of recent analyst reports. 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 report on Thursday, November 21st. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Finally, BMO Capital Markets cut their price target on shares of 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 equities 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.