APG Asset Management N.V. Increases Stake in Royal Bank of Canada (NYSE:RY)

APG Asset Management N.V. raised its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1,600.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,427,075 shares of the financial services provider’s stock after purchasing an additional 1,343,174 shares during the period. APG Asset Management N.V.’s holdings in Royal Bank of Canada were worth $166,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada in the third quarter valued at $25,000. WealthTrak Capital Management LLC acquired a new position in Royal Bank of Canada in the 4th quarter valued at $28,000. Roxbury Financial LLC purchased a new position in Royal Bank of Canada during the fourth quarter worth about $29,000. Kieckhefer Group LLC purchased a new position in shares of Royal Bank of Canada during the 4th quarter worth about $36,000. Finally, Crews Bank & Trust acquired a new position in shares of Royal Bank of Canada in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Down 1.5 %

Shares of Royal Bank of Canada stock opened at $109.29 on Tuesday. The stock has a market cap of $154.28 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a 12 month low of $95.84 and a 12 month high of $128.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $116.33 and a 200 day simple moving average of $120.58.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.75%. Royal Bank of Canada’s payout ratio is 45.96%.

Analyst Ratings Changes

Several research firms recently commented on RY. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday. Finally, StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “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.