Ontario Teachers Pension Plan Board Increases Stake in Royal Bank of Canada (NYSE:RY)

Ontario Teachers Pension Plan Board lifted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 78.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,946 shares of the financial services provider’s stock after buying an additional 2,174 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Royal Bank of Canada were worth $596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. WealthTrak Capital Management LLC bought a new stake in Royal Bank of Canada in the 4th quarter valued at $28,000. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada in the fourth quarter worth about $29,000. Kieckhefer Group LLC purchased a new stake in shares of Royal Bank of Canada in the fourth quarter worth about $36,000. Crews Bank & Trust bought a new position in Royal Bank of Canada during the fourth quarter valued at approximately $36,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new position in Royal Bank of Canada during the 4th quarter valued at approximately $36,000. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports 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 raised shares of 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 shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Up 0.3 %

Shares of RY opened at $115.58 on Thursday. 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 moving average of $114.90 and a 200 day moving average of $119.97. The company has a market cap of $163.16 billion, a PE ratio of 13.99, a P/E/G ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.55%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 46.18%.

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.