May Hill Capital LLC Makes New $433,000 Investment in Royal Bank of Canada (NYSE:RY)

May Hill Capital LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,592 shares of the financial services provider's stock, valued at approximately $433,000.

Several other large investors also recently bought and sold shares of RY. BNP Paribas Financial Markets grew its holdings in shares of Royal Bank of Canada by 38.7% in the third quarter. BNP Paribas Financial Markets now owns 1,276 shares of the financial services provider's stock valued at $159,000 after purchasing an additional 356 shares during the period. Glenmede Trust Co. NA increased its stake in Royal Bank of Canada by 5.5% during the third quarter. Glenmede Trust Co. NA now owns 3,157 shares of the financial services provider's stock worth $394,000 after purchasing an additional 165 shares during the period. Hantz Financial Services Inc. purchased a new stake in Royal Bank of Canada during the 3rd quarter worth approximately $62,000. Edgestream Partners L.P. purchased a new stake in shares of Royal Bank of Canada during the third quarter worth $352,000. Finally, Erste Asset Management GmbH purchased a new stake in Royal Bank of Canada during the 3rd quarter worth about $8,771,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RY. CIBC restated a "neutral" rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. BMO Capital Markets dropped their target price on Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. Finally, StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada presently has an average rating of "Moderate Buy" and an average price target of $156.50.

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Royal Bank of Canada Stock Performance

NYSE RY traded up $0.91 during trading on Wednesday, reaching $114.56. The company's stock had a trading volume of 856,249 shares, compared to its average volume of 1,059,640. The firm has a market cap of $161.72 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The business's fifty day moving average price is $116.97 and its 200-day moving average price is $120.83. 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. Stockholders of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's 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.