Skandinaviska Enskilda Banken AB publ Grows Stock Position in Royal Bank of Canada (NYSE:RY)

Skandinaviska Enskilda Banken AB publ grew its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 189,391 shares of the financial services provider’s stock after acquiring an additional 3,300 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Royal Bank of Canada were worth $22,824,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. lifted its position in Royal Bank of Canada by 274.5% during the third quarter. Assetmark Inc. now owns 3,775 shares of the financial services provider’s stock worth $471,000 after buying an additional 2,767 shares in the last quarter. Entropy Technologies LP purchased a new position in Royal Bank of Canada during the third quarter worth approximately $823,000. Plato Investment Management Ltd purchased a new position in Royal Bank of Canada during the third quarter worth approximately $3,106,000. OneDigital Investment Advisors LLC lifted its position in Royal Bank of Canada by 4.8% during the third quarter. OneDigital Investment Advisors LLC now owns 2,508 shares of the financial services provider’s stock worth $313,000 after buying an additional 115 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Royal Bank of Canada by 0.9% during 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 in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RY shares. BMO Capital Markets reduced their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Down 2.2 %

Shares of NYSE RY opened at $108.88 on Friday. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month 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 stock has a fifty day simple moving average of $118.79 and a 200-day simple moving average of $121.51. The stock has a market capitalization of $153.99 billion, a PE ratio of 13.18, a PEG 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. Investors of record on Thursday, April 24th will be paid 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 3.77%. Royal Bank of Canada’s payout ratio is 45.96%.

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.