Park Avenue Securities LLC Has $2.02 Million Holdings in Royal Bank of Canada (NYSE:RY)

Park Avenue Securities LLC lifted its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 25.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,762 shares of the financial services provider's stock after purchasing an additional 3,451 shares during the quarter. Park Avenue Securities LLC's holdings in Royal Bank of Canada were worth $2,020,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FMR LLC lifted its stake in Royal Bank of Canada by 75.8% in 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Royal Bank of Canada by 165.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider's stock valued at $361,532,000 after acquiring an additional 1,804,022 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Royal Bank of Canada in the 3rd quarter worth $153,217,000. Geode Capital Management LLC increased its holdings 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 worth $805,616,000 after purchasing an additional 541,760 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in Royal Bank of Canada by 18.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider's stock worth $291,925,000 after purchasing an additional 359,719 shares in the last quarter. Institutional investors own 45.31% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on RY shares. Barclays upgraded Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research note on Thursday, November 21st. TD Securities cut shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. BMO Capital Markets lowered their price target 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. Finally, StockNews.com downgraded shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a research note on Wednesday, January 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $156.50.

Royal Bank of Canada Stock Performance

Shares of NYSE RY traded up $0.38 during midday trading on Friday, hitting $120.46. 1,588,793 shares of the company's stock were exchanged, compared to its average volume of 675,270. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $170.29 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05. The company's 50 day moving average price is $122.59 and its 200 day moving average price is $119.40.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. The ex-dividend date is Monday, January 27th. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a yield of 3.49%. Royal Bank of Canada's dividend payout ratio (DPR) is 50.85%.

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.