Northwest & Ethical Investments L.P. Boosts Holdings in Royal Bank of Canada (NYSE:RY)

Northwest & Ethical Investments L.P. grew its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 434,184 shares of the financial services provider's stock after purchasing an additional 5,168 shares during the quarter. Royal Bank of Canada makes up approximately 1.4% of Northwest & Ethical Investments L.P.'s portfolio, making the stock its 7th biggest position. Northwest & Ethical Investments L.P.'s holdings in Royal Bank of Canada were worth $52,258,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Royal Bank of Canada by 75.8% during the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider's stock valued at $2,229,834,000 after buying an additional 7,702,585 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Royal Bank of Canada by 9.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider's stock worth $1,338,156,000 after buying an additional 921,276 shares during the period. Geode Capital Management LLC boosted its position in Royal Bank of Canada by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider's stock valued at $805,616,000 after acquiring an additional 541,760 shares in the last quarter. Alberta Investment Management Corp grew its holdings in shares of Royal Bank of Canada by 0.4% during the 4th quarter. Alberta Investment Management Corp now owns 3,583,817 shares of the financial services provider's stock worth $431,892,000 after acquiring an additional 15,300 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of 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 acquiring an additional 64,450 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

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Royal Bank of Canada Stock Up 2.0 %

Royal Bank of Canada stock traded up $2.31 during trading hours on Monday, hitting $115.91. The stock had a trading volume of 738,950 shares, compared to its average volume of 1,007,313. The stock's 50-day moving average price is $117.80 and its 200-day moving average price is $121.24. The stock has a market capitalization of $163.63 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a 12-month low of $95.84 and a 12-month high of $128.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.54%. Royal Bank of Canada's payout ratio is currently 45.96%.

Wall Street Analysts Forecast Growth

RY has been the topic of a number of 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. BMO Capital Markets cut their price objective on shares of 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, CIBC reiterated a "neutral" rating on shares of Royal Bank of Canada in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $156.50.

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.