Mufg Securities Canada LTD. Has $260.37 Million Position in Royal Bank of Canada (NYSE:RY)

Mufg Securities Canada LTD. increased its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 72.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,160,865 shares of the financial services provider's stock after acquiring an additional 904,909 shares during the period. Royal Bank of Canada comprises about 9.4% of Mufg Securities Canada LTD.'s holdings, making the stock its 2nd largest holding. Mufg Securities Canada LTD. owned approximately 0.15% of Royal Bank of Canada worth $260,373,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of RY. Charles Schwab Investment Management Inc. increased its holdings in Royal Bank of Canada by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider's stock valued at $427,589,000 after purchasing an additional 64,450 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Royal Bank of Canada during the fourth quarter valued at approximately $60,034,000. Wealth High Governance Capital Ltda bought a new position in shares of Royal Bank of Canada during the fourth quarter valued at approximately $10,243,000. Algert Global LLC purchased a new stake in Royal Bank of Canada in the third quarter worth $706,000. Finally, Bridgewater Associates LP boosted its holdings in Royal Bank of Canada by 150.7% in the third quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider's stock valued at $9,249,000 after acquiring an additional 44,494 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 Analysts Forecast Growth

RY has been the subject of several research reports. StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. CIBC reissued a "neutral" rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Finally, BMO Capital Markets lowered their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating for the company in a report on Thursday, December 5th. Three 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $156.50.

Royal Bank of Canada Stock Down 2.3 %

NYSE RY traded down $2.67 during trading hours on Friday, reaching $112.04. 843,252 shares of the company's stock traded hands, compared to its average volume of 1,063,070. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05. 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 firm has a 50-day simple moving average of $117.43 and a 200 day simple moving average of $121.04. The firm has a market cap of $158.17 billion, a PE ratio of 13.56, a PEG ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 45.96%.

Royal Bank of Canada 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.