Cumberland Partners Ltd Has $49.25 Million Holdings in Royal Bank of Canada (NYSE:RY)

Cumberland Partners Ltd raised its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 409,160 shares of the financial services provider’s stock after acquiring an additional 630 shares during the period. Royal Bank of Canada accounts for about 3.4% of Cumberland Partners Ltd’s portfolio, making the stock its 6th biggest position. Cumberland Partners Ltd’s holdings in Royal Bank of Canada were worth $49,247,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Royal Bank of Canada in the 3rd quarter valued at about $25,000. Dunhill Financial LLC purchased a new stake in shares of Royal Bank of Canada during the third quarter valued at approximately $25,000. Larson Financial Group LLC bought a new stake in Royal Bank of Canada during the third quarter worth $26,000. Whittier Trust Co. of Nevada Inc. boosted its position in Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 118 shares during the last quarter. Finally, Roxbury Financial LLC bought a new position in Royal Bank of Canada in the 4th quarter valued at $29,000. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $120.52 on Thursday. The firm has a market capitalization of $170.45 billion, a PE ratio of 14.59, a P/E/G ratio of 1.81 and a beta of 0.87. 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 company has a 50-day moving average price of $120.71 and a two-hundred day moving average price of $121.02. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a yield of 3.49%. Royal Bank of Canada’s dividend payout ratio (DPR) is 49.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of 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 objective on shares of 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 downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.