Bank Julius Baer & Co. Ltd Zurich Grows Position in Royal Bank of Canada (NYSE:RY)

Bank Julius Baer & Co. Ltd Zurich increased its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 735.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,538 shares of the financial services provider's stock after acquiring an additional 68,255 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Royal Bank of Canada were worth $9,344,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada during the third quarter valued at approximately $25,000. Dunhill Financial LLC purchased a new stake in shares of Royal Bank of Canada in the 3rd quarter worth about $25,000. Larson Financial Group LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at about $26,000. Roxbury Financial LLC purchased a new position in shares of Royal Bank of Canada during the fourth quarter valued at about $29,000. Finally, Kieckhefer Group LLC purchased a new stake in Royal Bank of Canada in the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Trading Up 0.9 %

Shares of NYSE:RY traded up $0.94 during trading on Wednesday, hitting $111.27. The company had a trading volume of 933,164 shares, compared to its average volume of 1,252,515. The stock has a market cap of $157.37 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The company has a fifty day simple moving average of $119.19 and a two-hundred day simple moving average of $121.67. Royal Bank of Canada has a one year low of $95.84 and a one year high of $128.05.

Remove Ads

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is currently 45.96%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RY shares. Barclays upgraded shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research note on Thursday, November 21st. StockNews.com upgraded Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. TD Securities cut Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. CIBC restated a "neutral" rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Finally, BMO Capital Markets decreased 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. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.