Ontario Teachers Pension Plan Board Purchases 2,174 Shares of Royal Bank of Canada (NYSE:RY)

Ontario Teachers Pension Plan Board raised its stake in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 78.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,946 shares of the financial services provider's stock after purchasing an additional 2,174 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Royal Bank of Canada were worth $596,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Roxbury Financial LLC acquired a new stake in shares of Royal Bank of Canada in the fourth quarter valued at approximately $29,000. WealthTrak Capital Management LLC bought a new position in Royal Bank of Canada during the fourth quarter worth $28,000. Jackson Grant Investment Advisers Inc. bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at about $36,000. Kieckhefer Group LLC acquired a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $36,000. Finally, Crews Bank & Trust acquired a new position in Royal Bank of Canada in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on RY. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. Finally, Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada has an average rating of "Buy" and an average target price of $156.50.

Royal Bank of Canada Trading Up 1.5 %

Shares of Royal Bank of Canada stock traded up $1.73 on Tuesday, reaching $116.94. 2,732,671 shares of the company's stock were exchanged, compared to its average volume of 1,110,224. The firm's 50-day moving average is $114.76 and its two-hundred day moving average is $119.78. The company has a market capitalization of $165.07 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. 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 has a 52 week low of $95.84 and a 52 week high of $128.05.

Royal Bank of Canada Cuts Dividend

The business 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 annualized dividend and a yield of 3.51%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is currently 46.18%.

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.