Andra AP fonden Takes Position in Royal Bank of Canada (NYSE:RY)

Andra AP fonden bought a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,000 shares of the financial services provider’s stock, valued at approximately $241,000.

A number of other institutional investors have also modified their holdings of RY. Capital Performance Advisors LLP purchased a new stake in shares of Royal Bank of Canada in the third quarter valued at approximately $25,000. Dunhill Financial LLC purchased a new stake in shares of Royal Bank of Canada in the third quarter valued at approximately $25,000. Larson Financial Group LLC purchased a new stake in shares of Royal Bank of Canada in the third quarter valued at approximately $26,000. Roxbury Financial LLC purchased a new stake in shares of Royal Bank of Canada in the fourth quarter valued at approximately $29,000. Finally, Kieckhefer Group LLC purchased a new stake in Royal Bank of Canada during the fourth quarter worth $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $115.07 on Monday. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The business has a 50-day moving average of $119.55 and a 200-day moving average of $121.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $162.74 billion, a price-to-earnings ratio of 13.93, 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. Stockholders of record on Thursday, April 24th will be given a $1.0251 dividend. This represents a $4.10 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s payout ratio is 45.96%.

Analyst Upgrades and Downgrades

A number of research firms have commented on RY. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. 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 research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.