Royal Bank of Canada (NYSE:RY) Shares Purchased by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co lifted its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 40.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,249 shares of the financial services provider's stock after purchasing an additional 34,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Royal Bank of Canada were worth $14,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RY. BNP Paribas Financial Markets grew its position in Royal Bank of Canada by 38.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,276 shares of the financial services provider's stock worth $159,000 after purchasing an additional 356 shares during the period. Edgestream Partners L.P. acquired a new position in Royal Bank of Canada in the 3rd quarter worth about $352,000. Janus Henderson Group PLC grew its stake in Royal Bank of Canada by 4.9% in the 3rd quarter. Janus Henderson Group PLC now owns 148,580 shares of the financial services provider's stock valued at $18,561,000 after acquiring an additional 6,900 shares during the period. Polar Asset Management Partners Inc. grew its position in shares of Royal Bank of Canada by 50.0% in the third quarter. Polar Asset Management Partners Inc. now owns 15,000 shares of the financial services provider's stock valued at $1,873,000 after purchasing an additional 5,000 shares during the period. Finally, Quantinno Capital Management LP increased its stake in shares of Royal Bank of Canada by 9.6% during the third quarter. Quantinno Capital Management LP now owns 54,316 shares of the financial services provider's stock worth $6,775,000 after purchasing an additional 4,753 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RY shares. 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. CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. Finally, StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Two equities research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $156.50.

Royal Bank of Canada Stock Down 2.6 %

Shares of Royal Bank of Canada stock traded down $2.95 on Thursday, reaching $110.78. 788,620 shares of the company were exchanged, compared to its average volume of 1,091,120. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The company has a market cap of $156.38 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. The stock's 50 day moving average price is $115.41 and its 200-day moving average price is $120.30.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is presently 45.96%.

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.