MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $8.55 Million Holdings in Royal Bank of Canada (NYSE:RY)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its holdings in Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,638 shares of the financial services provider’s stock after selling 3,392 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Royal Bank of Canada were worth $8,550,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RY. Contravisory Investment Management Inc. raised its holdings in Royal Bank of Canada by 9.7% in the 4th quarter. Contravisory Investment Management Inc. now owns 991 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 88 shares during the period. Total Clarity Wealth Management Inc. raised its holdings in Royal Bank of Canada by 2.1% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,780 shares of the financial services provider’s stock worth $507,000 after acquiring an additional 100 shares during the period. SRS Capital Advisors Inc. raised its holdings in Royal Bank of Canada by 15.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 751 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 103 shares during the period. Midwest Professional Planners LTD. raised its holdings in Royal Bank of Canada by 2.8% in the 4th quarter. Midwest Professional Planners LTD. now owns 4,079 shares of the financial services provider’s stock worth $433,000 after acquiring an additional 113 shares during the period. Finally, Veriti Management LLC raised its holdings in Royal Bank of Canada by 0.9% in the 4th quarter. Veriti Management LLC now owns 12,807 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 120 shares during the period. 41.50% of the stock is owned by institutional investors and hedge funds.

RY has been the topic of several recent analyst reports. National Bank Financial lifted their target price on shares of Royal Bank of Canada from C$147.00 to C$148.00 in a report on Friday, May 27th. Stifel Nicolaus dropped their price objective on shares of Royal Bank of Canada from C$152.00 to C$150.00 in a report on Friday, April 8th. CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Monday, April 11th. TD Securities dropped their price objective on shares of Royal Bank of Canada from C$150.00 to C$145.00 in a report on Friday, May 27th. Finally, Credit Suisse Group dropped their price objective on shares of Royal Bank of Canada from C$153.00 to C$152.00 in a report on Friday, May 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus price target of $143.84.

Shares of Royal Bank of Canada stock opened at $96.74 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50-day simple moving average is $101.72 and its 200-day simple moving average is $107.08. Royal Bank of Canada has a twelve month low of $94.94 and a twelve month high of $119.41. The firm has a market cap of $135.78 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 2.15 and a beta of 0.90.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Tuesday, July 26th will be given a $0.995 dividend. The ex-dividend date is Monday, July 25th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.94. This represents a $3.98 dividend on an annualized basis and a yield of 4.11%. Royal Bank of Canada’s payout ratio is 42.01%.

About Royal Bank of Canada (Get Rating)

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.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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