336,727 Shares in Royal Bank of Canada (NYSE:RY) Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 336,727 shares of the financial services provider’s stock, valued at approximately $42,072,000.

Several other institutional investors have also recently made changes to their positions in RY. PNC Financial Services Group Inc. grew its holdings in Royal Bank of Canada by 6.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after buying an additional 4,980 shares in the last quarter. Legal & General Group Plc grew its holdings in Royal Bank of Canada by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after buying an additional 190,341 shares in the last quarter. Creative Planning grew its holdings in Royal Bank of Canada by 6.4% during the 3rd quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock valued at $26,369,000 after buying an additional 12,693 shares in the last quarter. CIBC Asset Management Inc grew its holdings 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 valued at $1,706,833,000 after buying an additional 124,348 shares in the last quarter. Finally, Algert Global LLC purchased a new position in Royal Bank of Canada during the 3rd quarter valued at approximately $706,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock opened at $126.06 on Tuesday. The stock has a market cap of $178.21 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.89 and a beta of 0.86. 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 50 day moving average price of $123.84 and a 200-day moving average price of $116.32. Royal Bank of Canada has a one year low of $91.77 and a one year high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors 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 dividend yield of 3.34%. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 52.91%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RY. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets dropped their target price 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company 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.