American Century Companies Inc. Increases Stock Position in Royal Bank of Canada (NYSE:RY)

American Century Companies Inc. boosted its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 224,931 shares of the financial services provider's stock after acquiring an additional 13,230 shares during the period. American Century Companies Inc.'s holdings in Royal Bank of Canada were worth $27,121,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Dunhill Financial LLC purchased a new position in Royal Bank of Canada during the third quarter worth about $25,000. Larson Financial Group LLC purchased a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $26,000. Roxbury Financial LLC purchased a new position in shares of Royal Bank of Canada during the 4th quarter worth approximately $29,000. Kieckhefer Group LLC acquired a new stake in Royal Bank of Canada in the 4th quarter valued at approximately $36,000. Finally, Crews Bank & Trust purchased a new stake in Royal Bank of Canada in the fourth quarter valued at approximately $36,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. CIBC reaffirmed a "neutral" rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, BMO Capital Markets reduced their price target 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. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.50.

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Royal Bank of Canada Stock Up 0.8 %

NYSE RY traded up $0.95 during trading hours on Tuesday, hitting $113.67. 827,574 shares of the company were exchanged, compared to its average volume of 1,061,250. 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 firm has a market cap of $160.47 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.80 and a beta of 0.88. The company has a 50 day moving average of $117.27 and a two-hundred day moving average of $120.95. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 annualized dividend and a dividend yield of 3.61%. Royal Bank of Canada's dividend payout ratio is currently 45.96%.

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.