Bessemer Group Inc. Grows Position in Royal Bank of Canada (NYSE:RY)

Bessemer Group Inc. raised its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 614.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 417,181 shares of the financial services provider's stock after buying an additional 358,762 shares during the period. Bessemer Group Inc.'s holdings in Royal Bank of Canada were worth $50,238,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RY. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. StockNews.com raised shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Finally, CIBC upgraded Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $156.50.

Royal Bank of Canada Trading Down 0.0 %

Royal Bank of Canada stock traded down $0.03 during trading on Tuesday, hitting $115.35. The company's stock had a trading volume of 386,886 shares, compared to its average volume of 1,092,928. The stock's fifty day moving average is $115.05 and its 200 day moving average is $120.04. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The stock has a market capitalization of $162.84 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.80 and a beta of 0.82. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors 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 dividend on an annualized basis and a yield of 3.55%. Royal Bank of Canada's payout ratio is 46.18%.

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.