13,718 Shares in Royal Bank of Canada (NYSE:RY) Acquired by CenterBook Partners LP

CenterBook Partners LP purchased a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,718 shares of the financial services provider's stock, valued at approximately $1,653,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bessemer Group Inc. raised its position in Royal Bank of Canada by 614.1% during the 4th quarter. Bessemer Group Inc. now owns 417,181 shares of the financial services provider's stock worth $50,238,000 after buying an additional 358,762 shares during the last quarter. APG Asset Management N.V. lifted its position in Royal Bank of Canada by 1,600.9% during the fourth quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider's stock valued at $166,084,000 after purchasing an additional 1,343,174 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Royal Bank of Canada during the 4th quarter valued at about $32,983,000. Invesco Ltd. lifted its holdings in shares of Royal Bank of Canada by 4.8% in the 4th quarter. Invesco Ltd. now owns 3,789,560 shares of the financial services provider's stock valued at $456,680,000 after buying an additional 172,829 shares during the period. Finally, Ruggaard & Associates LLC boosted its stake in shares of Royal Bank of Canada by 1.8% in the fourth quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider's stock worth $565,000 after buying an additional 85 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Royal Bank of Canada Price Performance

RY traded up $0.49 on Wednesday, reaching $115.70. 201,147 shares of the company's stock were exchanged, compared to its average volume of 1,098,372. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The stock has a market cap of $163.33 billion, a PE ratio of 14.01, 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 current ratio of 0.86 and a quick ratio of 0.86. The stock's fifty day moving average price is $114.97 and its 200-day moving average price is $120.00.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.54%. Royal Bank of Canada's dividend payout ratio is currently 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.