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

Allianz Asset Management GmbH raised its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 18.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Royal Bank of Canada in the third quarter valued at approximately $25,000. Dunhill Financial LLC purchased a new position in shares of Royal Bank of Canada in the 3rd quarter valued at about $25,000. Larson Financial Group LLC acquired a new position in shares of Royal Bank of Canada during the third quarter worth about $26,000. Roxbury Financial LLC purchased a new stake in shares of Royal Bank of Canada during the fourth quarter worth approximately $29,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Royal Bank of Canada during the fourth quarter worth approximately $36,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RY has been the subject of several recent analyst reports. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. BMO Capital Markets lowered their price target on 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. Finally, TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Trading Down 0.6 %

Shares of RY opened at $118.92 on Monday. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The stock has a market cap of $168.20 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87. The firm has a 50 day simple moving average of $120.50 and a 200-day simple moving average of $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 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. This represents a $4.21 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.76%.

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.