Royal Bank of Canada (NYSE:RY) Shares Bought by Forsta AP Fonden

Forsta AP Fonden lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 365,900 shares of the financial services provider’s stock after purchasing an additional 22,400 shares during the period. Forsta AP Fonden’s holdings in Royal Bank of Canada were worth $44,095,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in shares of 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 purchasing an additional 4,980 shares in the last quarter. Creative Planning boosted its holdings in Royal Bank of Canada by 6.4% during the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock worth $26,369,000 after buying an additional 12,693 shares in the last quarter. CIBC Asset Management Inc grew its position in Royal Bank of Canada by 0.9% in the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after buying an additional 124,348 shares during the last quarter. Algert Global LLC acquired a new position in Royal Bank of Canada in the third quarter worth approximately $706,000. Finally, Bridgewater Associates LP grew its position in Royal Bank of Canada by 150.7% in the third quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock worth $9,249,000 after buying an additional 44,494 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RY shares. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. BMO Capital Markets reduced their price objective on shares of 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 upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Up 0.2 %

Shares of NYSE RY opened at $122.92 on Wednesday. The firm has a market capitalization of $173.84 billion, a PE ratio of 14.88, a PEG ratio of 1.81 and a beta of 0.87. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $122.47 and a two-hundred day moving average price of $120.07.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a dividend of $1.0522 per share. The ex-dividend date of this dividend is Monday, January 27th. This is an increase 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 3.42%. Royal Bank of Canada’s payout ratio is presently 50.85%.

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.