10,157 Shares in Royal Bank of Canada (NYSE:RY) Acquired by Achmea Investment Management B.V.

Achmea Investment Management B.V. bought a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,157 shares of the financial services provider's stock, valued at approximately $1,224,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Royal Bank of Canada by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider's stock valued at $427,589,000 after purchasing an additional 64,450 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Royal Bank of Canada by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider's stock valued at $10,483,000 after buying an additional 4,980 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Royal Bank of Canada during the 4th quarter valued at $60,034,000. Wealth High Governance Capital Ltda bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth $10,243,000. Finally, Algert Global LLC acquired a new position in shares of Royal Bank of Canada in the 3rd quarter worth $706,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Up 1.6 %

Shares of RY traded up $1.77 during midday trading on Wednesday, reaching $114.25. 990,801 shares of the stock were exchanged, compared to its average volume of 1,004,666. The company has a market cap of $161.28 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 1.80 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. The firm has a 50 day simple moving average of $118.26 and a 200-day simple moving average of $121.43.

Remove Ads

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 45.96%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RY shares. Barclays upgraded Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research report on Thursday, November 21st. CIBC restated a "neutral" rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Finally, BMO Capital Markets reduced their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating for the company in a research note on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada currently has an average rating of "Moderate Buy" and a consensus 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.