Capital Research Global Investors Increases Holdings in Royal Bank of Canada (NYSE:RY)

Capital Research Global Investors boosted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 346,194 shares of the financial services provider’s stock after purchasing an additional 658 shares during the period. Capital Research Global Investors’ holdings in Royal Bank of Canada were worth $41,742,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Royal Bank of Canada by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,381 shares of the financial services provider’s stock valued at $261,794,000 after buying an additional 5,799 shares during the period. Forum Financial Management LP increased its stake in shares of Royal Bank of Canada by 7.8% in the fourth quarter. Forum Financial Management LP now owns 17,589 shares of the financial services provider’s stock worth $2,120,000 after purchasing an additional 1,276 shares in the last quarter. GeoWealth Management LLC raised its position in shares of Royal Bank of Canada by 365.7% in the fourth quarter. GeoWealth Management LLC now owns 843 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 662 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Royal Bank of Canada by 9.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,071,657 shares of the financial services provider’s stock worth $129,031,000 after buying an additional 92,464 shares during the period. Finally, Fairfield Bush & CO. grew its stake in Royal Bank of Canada by 2.5% in the 4th quarter. Fairfield Bush & CO. now owns 21,824 shares of the financial services provider’s stock valued at $2,630,000 after buying an additional 538 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.8 %

Royal Bank of Canada stock opened at $115.26 on Tuesday. The stock has a market cap of $162.71 billion, a P/E ratio of 13.95, a PEG ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The firm’s fifty day moving average price is $114.76 and its 200-day moving average price is $119.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given 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 dividend yield of 3.56%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 46.18%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RY. CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Friday, April 4th. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $156.50.

About Royal Bank of Canada

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.