Knights of Columbus Asset Advisors LLC Acquires New Holdings in Royal Bank of Canada (NYSE:RY)

Knights of Columbus Asset Advisors LLC bought a new stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,170 shares of the financial services provider's stock, valued at approximately $3,997,000.

A number of other large investors have also recently added to or reduced their stakes in RY. Charles Schwab Investment Management Inc. increased its stake in Royal Bank of Canada by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider's stock worth $427,589,000 after purchasing an additional 64,450 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Royal Bank of Canada in the fourth quarter worth about $60,034,000. PNC Financial Services Group Inc. increased its position in shares of Royal Bank of Canada by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider's stock worth $10,483,000 after acquiring an additional 4,980 shares in the last quarter. Wealth High Governance Capital Ltda acquired a new stake in shares of Royal Bank of Canada during the fourth quarter valued at approximately $10,243,000. Finally, Algert Global LLC purchased a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $706,000. 45.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. BMO Capital Markets cut their target price on shares of 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. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, CIBC restated a "neutral" rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $156.50.

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Royal Bank of Canada Stock Down 0.3 %

RY stock traded down $0.36 during mid-day trading on Wednesday, hitting $116.29. The stock had a trading volume of 748,245 shares, compared to its average volume of 982,192. The stock has a market capitalization of $164.17 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.80 and a beta of 0.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The company has a fifty day moving average of $117.70 and a 200 day moving average of $121.17.

Royal Bank of Canada Cuts Dividend

The firm 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 3.53%. Royal Bank of Canada's dividend payout ratio is currently 45.96%.

Royal Bank of Canada Company 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.