Royal Bank of Canada (NYSE:RY) Shares Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp increased its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,583,817 shares of the financial services provider's stock after purchasing an additional 15,300 shares during the quarter. Royal Bank of Canada makes up about 2.9% of Alberta Investment Management Corp's portfolio, making the stock its 3rd biggest position. Alberta Investment Management Corp owned approximately 0.25% of Royal Bank of Canada worth $431,892,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at about $25,000. Dunhill Financial LLC purchased a new position in Royal Bank of Canada during the third quarter valued at approximately $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada during the third quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. raised its stake 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 buying an additional 118 shares in the last quarter. Finally, Roxbury Financial LLC purchased a new stake in Royal Bank of Canada during the fourth quarter worth $29,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Down 0.6 %

RY stock traded down $0.74 on Friday, hitting $118.92. 2,066,832 shares of the company's stock were exchanged, compared to its average volume of 1,215,382. The firm has a 50 day moving average price of $120.61 and a two-hundred day moving average price of $121.01. 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 has a 12-month low of $95.84 and a 12-month high of $128.05. The stock has a market cap of $168.20 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.81 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.54%. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.03. Royal Bank of Canada's dividend payout ratio is 49.76%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RY. TD Securities downgraded Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. BMO Capital Markets cut their target price on Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. StockNews.com lowered shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Wednesday, January 1st. Finally, Barclays upgraded shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada currently has a consensus 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.